Suzlon Energy block deal: Promoters Tanti Family & Trust to offload 20 crore shares worth ₹1,295 crore

Suzlon Energy block deal: Suzlon Energy is likely to report a massive block deal in the coming week with its promoters Tanti Family & Trust looking to offload as many as 20 crore shares worth ₹1,295 crore. According to CNBC Awaaz, the promoters are eyeing a fundraise of nearly ₹1,300 crore via the block deal.

The Suzlon Group’s renewable energy major is expected to execute the block deal with its shares likely offered at a discount of up to three per cent to the current market price (CMP). According to CNBC Awaaz, shares will be offloaded at a floor price of ₹64.75 per equity share with a 2.9 per cent discount to the CMP.

LiveMint could not independently verify the details of the report.

Domestic brokerage Motilal Oswal is believed to be the sole broker for the transaction. However, Suzlon Energy has not yet issued any official notice or clarification about the block deal so far. According to the report, the lock in period is of 180 days post the block deal for further sale.

Suzlon Energy share price trend

Suzlon Energy has delieverd multibagger returns to investors in the last three-tofive period. According to Trendlyne data, Suzlon Energy has delivered over 708.61 per cent returns in the last three years and massive 1,753.06 per cent returns in the last five years. 

On Friday, shares of Suzlon Energy settled 0.07 per cent lower at ₹66.74 apiece on the BSE. In the last five days, the stock has shed eight per cent, however, it has rallied 23 per cent in one month. Suzlon Energy share price is up nearly three per cent year-to-date (YTD) and about 35 per cent in the last one year.