SUZLON ENERGY SHARES TO BE IN FOCUS ON THURSDAY POST THIS ₹440 CRORE TRANSACTION

Suzlon Energy Ltd. has informed the exchanges on Wednesday that it has signed a conveyance deed with OE Business Park Pvt. Ltd. for the sale of "One Earth Property," its corporate office.

The transaction is being done for ₹440 crore, of which, ₹411.21 crore is towards conveyance and ₹28.79 crore is towards reimbursement of stamp duty and other registration charges.

Post the sale completion, One Earth Property will be leased back to Suzlon for a five-year period with sub-leasing and licensing rights. Further, the company has also signed agreements with the holders of securities issued by OE Business Park Pvt. Ltd. with a "Call" option to purchase and granting the holders of the securities a "Put" option to sell the securities.

A call option gives the buyer the right to buy a security at a pre-determined price. The Put option gives the holder the right to sell the security at a pre-determined price but the buyer is not obligated to exercise the option.

OE Business park is incorporated in Worli as a Special Purpose Vehicle (SPV) and its shares are held by funds managed by 360 ONE Alternates Asset Management Ltd.

The sale was approved by shareholders of Suzlon Energy at its Extra Ordinary General Meeting which was held on March 25, 2022.

Shares of Suzlon Energy ended 0.3% lower on Thursday at ₹74.26. The stock is up 92% so far in 2024 and has tripled in value over the last 12 months, with gains of 208%.

Also Read: 'Exit Suzlon' if it closes below this level, advises this chartist

2024-09-04T11:56:34Z dg43tfdfdgfd