The stake was sold in a block deal in the open market.
The news triggered the stock holders, following which the scrip dived down on the bourses.
On BSE, the stock fell 9.77% or 2.50 points to Rs 23.10.
The similar trend was seen on the National Stock Exchange (NSE), the stock slid 10.14% to Rs 23.05.
With this, the overall stake of Samanvaya Holdings in Suzlon Energy decreased to 52.76% from previous 54.84%.
The proceeds from the stock sale will be used to invest in the promoter owned business by supporting Suzlon Energy directly or indirectly, Samanvaya Holdings said.
Suzlon Energy is a global wind power company and in terms of market share, the company is the fifth largest wind turbine manufacturer in Asia.