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Sun Pharmaceutical Industries founder Dilip Shanghvi has agreed to acquire 23 per cent stake in wind turbine maker Suzlon Energy for Rs 1,800 crore.
A statement from Suzlon said the Dilip Shanghvi Family and Associates (DSA) will hold 23 per cent of the shares of Suzlon Energy post the transaction.
Suzlon promoter, Tulsi Tanti’s family will hold 24 per cent. The management control remains with the Tanti family by virtue of pooling arrangement for voting.
Suzlon will issue 100 crore new preferential shares to DSA.
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