The promoters of Suzlon Energy are reportedly looking to sell a significant stake in the company through a series of block deals, according to media reports. The move is aimed at raising approximately Rs 1,300 crore.
The reports suggest that the promoters intend to offload up to 20 crore shares, which would represent 1.4% of equity in the company, or 11% of their current holding.
As of March 2025, promoters of the company hold a 13.25% stake in the wind turbine manufacturer.
The block deals are anticipated to be executed at a discount of 2% from the last closing price of Suzlon's stock on the National Stock Exchange.
Shares of the company advanced 0.28% on Friday compared against a 1% advance for the benchmark Nifty 50, and closed at Rs 66.96 on the NSE.
Suzlon Energy has not yet issued an official statement or clarification regarding these media reports.
Despite a recent dip in its stock price, with shares falling 7.5% over the last five trading sessions, Suzlon Energy's shares have surged 22.4% in the past month.
For the quarter ending March 2025, Suzlon reported sales of Rs 3,790 crores and a net profit of Rs 1,181 crores.
Of the eight analysts that track the stock, six hold a 'buy' rating, while two recommend a 'hold' rating, according to Bloomberg data.
The consensus price target for the next twelve months projects an upside of 14.1% for the stock.
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