Suzlon Energy acquires 5 solar companies

These companies, which have been acquired at face value, do not have any operations or assets currently and have been acquired primarily to be used as SPVs for the proposed solar project.

Apr 19, 2016 09:04 IST India Infoline News Service

Suzlon-Energy spurts
Suzlon Energy Ltd has announced that it has acquired the following companies, Gale Solarfarms Private Limited, Tornado Solarfarms Private Limited, Abha Solarfarms Private Limited, Aalok Solarfarms Private Limited and Shreyas Solarfarms Private Limited to implement various renewable energy projects across the country, including the recently won solar projects in Maharashtra of 70 MW.

These companies, which have been acquired at face value, do not have any operations or assets currently and have been acquired primarily to be used as SPVs for the proposed solar project.

Suzlon Energy Ltd ended at Rs. 15.28, up by Rs. 0.7 or 4.8% from its previous closing of Rs. 14.58 on the BSE.
The scrip opened at Rs. 15 and touched a high and low of Rs. 15.37 and Rs. 14.87 respectively. A total of 47340923(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs. 7671.33 crore.
The BSE group 'A' stock of face value Rs. 2 touched a 52 week high of Rs. 28 on 06-Aug-2015 and a 52 week low of Rs. 12.8 on 12-Feb-2016. Last one week high and low of the scrip stood at Rs. 15.37 and Rs. 14.27 respectively.
The promoters holding in the company stood at 21.1 % while Institutions and Non-Institutions held 28.64 % and 50.05 % respectively.
The stock traded above its 200 DMA.

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