Suzlon Energy initiates sale of its subsidiaries

Suzlon Energy has initiated the sale of securities of its subsidiaries Heramba Renewables and Abha Solafarms, subsidiaries of the company. Accordingly, Heramba and Abha have ceased to be subsidiaries of the company.

The Company has received an aggregate consideration of Rs.10.13 crore on sale of 26% of its existing stake in Heramba and the balance stake would be transferred on receiving the balance consideration of Rs.9.74 crore, which is proposed to be completed in due course.

The Company has received an aggregate consideration of Rs.5.06 crore on sale of 26% of its existing stake in Abha and the balance stake would be transferred on receiving the balance consideration of RsA.87 crore, which is proposed to be completed in due course.

 

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