Shares of wind turbine maker Suzlon Energy today surged nearly 19 per cent in the backdrop of the company signing definitive agreements with Dilip Shanghvi Family and Associates (DSA) for equity investments of Rs 1,800 crore.
The stock zoomed 18.27 per cent to Rs 22.65 at the BSE. On the NSE, it climbed 18.75 per cent to Rs 22.80.
Dilip Shanghvi is Sun Pharmaceuticals promoter.
The company has signed definitive agreements with Dilip Shanghvi Family and Associates (DSA) for equity investments of Rs 1,800 crore in Suzlon Energy.
Post allotment, DSA shareholding will rise to 23 per cent (based on current shareholding), while the Tanti Family will hold 24 per cent shares.
Shanghvi and family also announced an open offer to acquire 26 per cent stake in Suzlon at Rs 18 per share aggregating Rs 2,837 crore.
Management control will remain with Tanti family by virtue of pooling arrangement for voting.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.