According to reports, the controlling shareholders in Indian wind turbine maker Suzlon Energy on Thursday sold 37 million shares, or 2.08 percent in the company, a source with direct knowledge told Reuters, bringing down the promoters’ stake to just under 53 percent.
The proceeds from the sale, amounting to about $20 million, will be used to support the business in India, the source said.
The company declined to comment on the matter.
Earlier on Thursday, 37.01 million shares in Suzlon changed hands in a block deal on the National Stock Exchange.
Suzlon shares closed 12 percent lower at 25.65 rupees in a weak Mumbai market.