,
Tanti Family and Trust, likely offloaded a 1.45% stake in the company on Monday via a
block deal, in which 8.86 crore shares reportedly changed hands. Following the transaction, the stock opened 2.2% higher and hit an intraday high of Rs 68.20 on BSE.According to earlier reports, the Tanti Family and Trust had planned to sell 20 crore shares, equivalent to a 2.9% stake in the company, through a block deal. The shares were reportedly priced at Rs 64.75 apiece, reflecting a 2.9% discount to the stock’s Friday closing price.
The deal, as per previous reports, is valued at approximately Rs 1,295 crore and includes a 180-day lock-in period, restricting further sales during this time. Motilal Oswal is acting as the sole broker for the transaction.
Suzlon Energy is one of India’s leading renewable energy companies. It focuses primarily on wind energy and has contributed significantly to India’s green energy initiatives.
Over the years, the company has expanded internationally and has played a key role in India’s transition towards sustainable energy sources. Despite facing financial difficulties, including debt restructuring and operational challenges, it has remained a prominent player in the renewable sector.
The Tanti Family’s decision to offload a portion of their holding is seen as part of a broader strategy to manage debt and ensure liquidity.
The 180-day lock-in period, standard in such block deals, is intended to ensure market stability and prevent immediate further selling, which could negatively impact share prices.
Market experts note that while the 2.9% discount on the floor price is relatively modest, the sheer size of the deal makes it significant. A transaction of Rs 1,295 crore in a single block deal signals
investor confidence and underscores the continued interest in India’s renewable energy sector.
The market will closely watch the impact of this deal on Suzlon’s share price and investor sentiment in the coming months. This transaction marks another chapter in Suzlon’s journey as it navigates the challenges of the renewable energy market while striving to maintain its leadership position.
(: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
