Suzlon Energy tanks 35% as promoters sell stake
Post the sale, the promoters group holding in the company stands reduced to approximately 44.46 per cent of the paid-up capital.
By ET Online | Updated:
MUMBAI: Suzlon Energy came under intense selling pressure in a weak market after the company announced to the stock exchanges that promoters have sold 10.99 crore shares or 6.19 per cent of the paid-up capital for Rs 240.40 crore.
“Parts of funds so raised would be infused into the company by suitable mode at the earliest, subject to applicable law to comply with equity infusion requirement under CDR mechanism as promoters’ contribution, which in current liquidity situation would also support the operations of the company,” the company said in a filing to the stock exchanges.
Post the sale, the promoters group holding in the company stands reduced to approximately 44.46 per cent of the paid-up capital.
At 03:10 pm, the stock was at Rs 15.80, down 34.85 per cent, on the BSE. It touched a high of Rs 25.30 and a low of Rs 15.80 in trade today.
“Parts of funds so raised would be infused into the company by suitable mode at the earliest, subject to applicable law to comply with equity infusion requirement under CDR mechanism as promoters’ contribution, which in current liquidity situation would also support the operations of the company,” the company said in a filing to the stock exchanges.
Post the sale, the promoters group holding in the company stands reduced to approximately 44.46 per cent of the paid-up capital.
At 03:10 pm, the stock was at Rs 15.80, down 34.85 per cent, on the BSE. It touched a high of Rs 25.30 and a low of Rs 15.80 in trade today.
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