BlackRock's Stake In Suzlon Energy Rises Above 5% Level With Acquisition Of 24.73 Lakh Additional Shares

Investment firm BlackRock Inc.'s equity holding in renewable energy company Suzlon Energy has moved above the 5% level with the acquisition of about 24.73 lakh fresh equity shares in the company, said the company in an exchange filing on December 2, 2023.

"The aggregate holdings of BlackRock, Inc. (on behalf of discretionary management clients) in Suzlon Energy Limited has moved above 5%," said the regulatory filing.

As per the filing BlackRock has bought 24,73,442 shares (0.02% of total share capital) in Suzlon Energy, in addition to 68,02,13,598 shares (4.99% of the total share capital) already held in the company.

Following the acquisition of 24,73,442 shares on November 30, 2023, BlackRock's aggregate holding has increased to 5.01% in Suzlon Energy.

BlackRock now holds 68,26,87,040 shares (5.01% of the total shareholding) in the Suzlon Energy.

The share price of Suzlon Energy last closed 2.86% lower at Rs 39.42 per share on Friday.

In the last one year, Suzlon Energy shares have gained 335.58%, while in this year so far the stock is up 267.72%. The returns from the stock in the las 3-years and 5 years are up 1112.92% and 733.40% respectively. The company commands a market capitalization of Rs 53,513.68 crore.

BalckRock Inc shares closed at $756.35 per share on Friday.

About The Suzlon Group:

The Suzlon Group is one of the leading renewable energy solutions providers in the world with ~20.3 GW* of wind energy capacity installed across 17 countries. Headquartered at Suzlon One Earth in Pune, India; the Group comprises Suzlon Energy Limited (NSE: SUZLON & BSE: 532667) and its subsidiaries. A vertically integrated organization, with in‐house research and development (R&D) centres in Germany, the Netherlands, Denmark, and India, Suzlon's world‐class manufacturing facilities are spread across 14 locations in India.

With over 28 years of operational track record, the Group has a diverse workforce of over 6,000 employees. Suzlon is also India's No. 1 wind energy service company with the largest service portfolio of over 14.3 GW of wind energy assets. The Group has ~6 GW of installed capacity outside India. The 3 MW Series wind turbine technology platform is the latest addition to its comprehensive product portfolio.