Latest News | Goldman Sachs, Morgan Stanley, Others Buy 1.45 Pc Stake in Suzlon Energy for Rs 1,309 Cr

New Delhi, Jun 9 (PTI) Goldman Sachs, Morgan Stanley, Motilal Oswal Mutual Fund (MF), Societe Generale and others bought a total of 19.81 crore equity shares, representing 1.45 per cent stake, of Suzlon Energy for Rs 1,309 crore from promoter entities through open market deals on Monday.

Aditya Birla Sun Life MF, Edelweiss MF, Bandhan MF, Sundaram MF, Invesco MF, ICICI Prudential Life Insurance and Bajaj Allianz Life Insurance, were also among the buyers, according to block deal data on the NSE.

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These entities purchased more than 19.81 crore equity shares, representing a 1.45 per cent stake in Pune-based renewable energy company Suzlon Energy at an average price of Rs 66.05 apiece, as per the data.

This took the combined deal value to Rs 1,308.87 crore.

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Meanwhile, Suzlon Energy's promoter entities Tanti Holdings Pvt Ltd, Vinod Ranchhodhbhai Tanti (Chairperson-MD of Suzlon Energy), Tanti Ranchhodbhai Ramjibhai and Rambhaben Ukabhai Tanti offloaded an equal number of shares at the same price, as per the NSE data.

After the stake sale, the combined holding of Suzlon Energy's promoters dipped to 11.8 per cent from 13.25 per cent.

Shares of Suzlon Energy went up 0.76 per cent to settle at Rs 67.22 apiece on the NSE.

In a separate block deal on the BSE, Shankara Building Products' promoter and MD Sukumar Srinivas divested a 7.8 per cent stake in the company for Rs 176 crore through open market transactions.

Following the stake sale, the promoters' holding in Shankara Building Products dipped to 41.41 per cent from 49.25 per cent.

As per the data, Srinivas offloaded 19 lakh shares of Shankara Building Products at an average price of Rs 926.1 apiece, taking the combined value to Rs 175.95 crore.

Meanwhile, Chartered Finance and Leasi NG, Singularity Equity Fund I, Ace Infracity Developers, Sageone Investment Managers LLP, Riti Foundation, RR Foundation, S R Foundation and Swati Foundation purchased these shares.

The scrip of Shankara Building Products jumped 6.62 per cent to close at Rs 997.35 apiece on the BSE.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)