Suzlon Shares in Focus Today: Finalised Sale Deal of ₹440 Crore

Suzlon Energy shares will be in focus on September 05, 2024, as the leading Indian wind energy company announced the sale of its corporate office, “One Earth Property,” to OE Business Park Pvt. Ltd. The transaction was finalised at a total consideration of ₹440 crore. On September 05, 2024, Suzlon shares opened at ₹75.67 and touched the day high of ₹76.49 at 09:30 AM.

Of the total amount, ₹411.21 crore was allocated towards the conveyance of the property, while the remaining ₹28.79 crore was used to reimburse stamp duty and other registration charges. Following the sale, Suzlon Energy will lease back the property from OE Business Park Pvt. Ltd for a five-year period. The company will also retain sub-leasing and licensing rights over the property.

To ensure a smooth transition and protect its interests, Suzlon Energy has entered into agreements with the holders of securities issued by OE Business Park Pvt. Ltd. These agreements include a “Call” option, granting Suzlon Energy the right to purchase the securities at a predetermined price, and a “Put” option, allowing the security holders to sell their securities to Suzlon Energy at a specified price.

OE Business Park Pvt. Ltd, a Special Purpose Vehicle (SPV) incorporated in Worli, is owned by funds managed by 360 ONE Alternates Asset Management Ltd. The sale of One Earth Property was approved by Suzlon Energy’s shareholders at an Extra Ordinary General Meeting held on March 25, 2022.

About Suzlon Energy Limited

Suzlon is one of the leading global renewable energy solutions providers. It is a vertically integrated WTG manufacturer. It also undertakes installation and O&M of all WTG sales. Operations include design development and manufacturing of all major components, including rotor blades, tubular towers, generators, control equipment, gears and nacelles.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.