BlackRock’s stake in Suzlon rises above 5%

Investment firm BlackRock Inc.’s equity holding in renewable energy company Suzlon Energy has moved above the 5 per cent level with the acquisition of about 24.73 lakh fresh equity shares in the company, Good Returns reported.

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

As per the filing BlackRock has bought 24,73,442 shares (0.02 per cent of total share capital) in Suzlon Energy, in addition to 68,02,13,598 shares (4.99 per cent 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 per cent in Suzlon Energy, Good Returns reported.

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

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

In the last one year, Suzlon Energy shares have gained 335.58 per cent, while in this year so far the stock is up 267.72 per cent.

The returns from the stock in the last 3 years and 5 years are up 1112.92 per cent and 733.40 per cent, respectively.

The company commands a market capitalization of Rs 53,513.68 crore.