Updated 9 June 2025 at 12:32 IST
Renewable energy major Suzlon Energy Ltd shares surged 2 percent in trade on Monday to hit an intraday high of Rs 68.29, as a direct result of an exchange in shares worth Rs 1,300 crore via a block deal.
During the pre-market block deal window on June 9, around 19.81 crore shares or 1.45 per cent equity exchanged hands, according to data available.
At 11:59 am, shares of Suzlon Energy were trading at Rs 67.28 apieece, higher by 0.79 per cent on BSE Sensex.
Reportedly, the deal is valued at Rs 1,295 crore in which promoters seek to offload 20 crore shares.
The floor price has been set at Rs 64.75 per share, which represents a 2.9 percent discount to the stock’s closing price on Friday. After the transaction, the lock-in period of 180 days will be applicable, this restricts any further share sales.
As per the shareholding pattern for the March quarter, Suzlon Energy’s promoters hold a 13.25 percent stake in the company, while the remaining shares are owned by public investors.
Mutual funds in India hold a 4.17 percent stake in Suzlon. Over 56 lakh retail shareholders with an authorised capital of up to Rs 2 lakh collectively own 25.12 percent, while those with investments exceeding Rs 2 lakh hold a 13.59 percent stake.
The wind-energy solutions provider has reported a higher than expected profit for Q4 FY25. The Pune-headquartered firm posted a 365 per cent rise in its connsolidated net prfit to Rs 1,181 crore in the quarter ended March 2025, on the backs of expectional gain by a deffered tax benefit totalling Rs 600 crore.
The renewable energy solutions posted higher-than-expected profit for the quarter ended March 31, 2025. Suzlon Energy reported 365 percent increase in consolidated net profit to Rs 1,181 crore in the March quarter, mainly due to an exceptional gain boosted by a deferred tax gain of Rs 600 crore.
The company's total revenue from operations increased 73.2 percent to Rs 3,773.5 crore in Q4 FY25 as against Rs 2,179.2 crore in the same period, a year ago.
Published 9 June 2025 at 12:30 IST