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Dilip Shanghvi acquires 23% stake in Suzlon Energy for Rs 1,800 crore

16 Feb 2015 Evaluate

Dilip Shanghvi, India’s second richest person and promoter of Sun Pharmaceuticals, has acquired 23% stake in Suzlon Energy for an equity investment of Rs 1,800 crore, giving the stressed wind turbine maker a fresh dose of fund infusion.

Shanghvi will also collaborate with Suzlon for developing a 450-Mw wind farm in a 50:50 joint venture and will help it in raising non-fund working capital for projects. Shanghvi, who runs India’s largest pharma company, is being viewed as a white knight to Tulsi Tanti, group chairman of Suzlon, which has been plagued with massive debt and steep losses.

 

Peers
Company Name CMP
Waaree Energies 2342.00
Apar Industries 18104.45
Havells India 1052.00
Suzlon Energy 38.94
Siemens 3707.40
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