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Suzlon surges on the buzz of selling wind and services business to Repower

05 Feb 2014 Evaluate

Suzlon Energy is currently trading at Rs. 11.56, up by 0.13 points or 1.14% from its previous closing of Rs. 11.43 on the BSE.

The scrip opened at Rs. 11.44 and has touched a high and low of Rs. 11.75 and Rs. 11.35 respectively. So far 530849 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 26.90 on 06-Feb-2013 and a 52 week low of Rs. 5.72 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs. 11.75 and Rs. 9.70 respectively. The current market cap of the company is Rs. 2883.76 crore.

The promoters holding in the company stood at 40.34% while Institutions and Non-Institutions held 26.89% and 32.49% respectively.

In a bid to trim down its debt, Suzlon Energy is reportedly planning to sell its wind and services business to its cash-rich German subsidiary REpower. This move will fetch Suzlon over $1 billion, with which it could pay off its debt of Rs 5,300 crore.

Further, REpower is also likely to come up with a public issue in Europe. Suzlon might dilute 25-35 per cent of its holdings in REpower, subject to regulations prevalent in Europe.

Suzlon has debt of Rs 14,150 crore on its books, of which Rs 9,500 crore is being restructured under the CDR programme.

Suzlon Group comprises of Suzlon Energy and its subsidiaries, including Repower Systems SE. Suzlon Energy is leader in wind energy in the India, which is world’s fifth largest wind energy market. Its business model has range of services that include development, manufacturing, marketing, EPC project delivery and operations and maintenance of wind turbine generators around the world.

 

Suzlon Energy Share Price

53.09 0.61 (1.16%)
21-Apr-2026 16:59 View Price Chart
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