Suzlon Energy Promoter Group offloads 4.50% stake in company

Suzlon Energy Ltd has announced that they have been informed by the Promoters of the Company that Nidhi T. Tanti, Brij J. Tanti and Girish R. Tanti as karta of Girish Ranchhodbhai HUF, persons Forming part of the Promoter Group have sold approximately 70,000,000 equity shares representing approximately 4.50% the paid-up capital of the Company held by them on September 23, 2009. Following the aforementioned sale, the Promoter / Promoter Group holding in the Company stands reduced to 53.08% of the paid-up capital.

Further, these shareholders of the Company have indicated to the Company that they intend to provide these funds to the Company either in form of debt or equity subject to applicable law, the Company approving the same and receipt of requisite approvals.

The stock was trading at Rs.96.70, down by Rs.4.10 or 4.07%. The stock hit an intraday high of Rs.99.70 and low of Rs.96.50.

The total traded quantity was 62459711 compared to 2 week average of 10626881.

Source : Equity Bulls

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