Suzlon Energy has initiated sale of securities of Shreyas Solarfarms (Shreyas) and Aalok Solarfarms (Aalok) to Ostro Energy (Ostro). The company has received an aggregate consideration of Rs 10.13 crore on sale of 26% of its existing stake in Shreyas and the balance stake would be transferred on receiving the balance consideration of Rs 9.74 crore, which is proposed to be completed in due course.
The company has received an aggregate consideration of Rs 5.06 crore on sale of 26% of its existing stake in Aalok and the balance stake would be transferred on receiving the balance consideration of Rs 4.87 crore, which is proposed to be completed in due course.
While Shreyas and Aalok have ceased to be the subsidiaries of the Company, post the transfer of balance stake, which is proposed to be completed in due course, Shreyas and Aalok would become wholly owned subsidiaries of Ostro.
Suzlon Group is one of the leading renewable energy solutions providers in the world with an international presence across 18 countries in Asia, Australia, Europe, Africa and North and South America.
