Big Players Snap Up Suzlon Energy Shares Amid Promoter Stake Sale
Major financial entities, including Goldman Sachs and Morgan Stanley, acquired a 1.45% stake in Suzlon Energy, making substantial purchases of its shares. Concurrently, Shankara Building Products' promoter divested 7.8% of his holdings. These transactions mark notable activity in equity markets, impacting stake distributions and share prices.
- Country:
- India
In a significant open market transaction on Monday, financial giants such as Goldman Sachs, Morgan Stanley, and others purchased 19.81 crore shares of Suzlon Energy. This acquisition, worth Rs 1,309 crore, accounts for a 1.45% stake in the Pune-based renewable energy company.
The sellers included Suzlon's promoter entities like Tanti Holdings Pvt Ltd, whose combined holding fell from 13.25% to 11.8%. In a related development, Shankara Building Products' promoter divested a 7.8% stake for Rs 176 crore, reducing their holding significantly.
The stake sales have led to changes in shareholdings, reflected in the stock market as Suzlon saw a small rise in share price, while Shankara Building Products experienced a notable jump of 6.62% on the BSE.
(With inputs from agencies.)
ALSO READ
India's Renewable Energy Revolution: A Decade of Transformation
BC Jindal Group Secures Major Renewable Energy Project
India's Renewable Energy Prospects: Piyush Goyal Meets Total Energies CEO
Diu's Solar Revolution: A Beacon of Renewable Energy Success
IMFA's Green Leap: Pioneering Renewable Energy in Odisha
Google News