Suzlon Energy has recently taken a significant step by deciding to sell its corporate office, ‘One Earth Property,’ for ₹440 crores. After the deal, the company will lease the property back for the next five years, ensuring no disruption in its operations. This move aims to improve Suzlon’s financial position, and its impact may be seen in the company’s stock performance in the upcoming sessions. Over the past year, Suzlon’s shares have delivered an impressive 208% return.
Highlights:
- Suzlon Energy has decided to sell the ‘One Earth Property’ for ₹440 crores.
- The deal has been made with Oe Business Park Private Limited.
- Suzlon will lease the property back for five years.
- The company’s shares have given a 208% return over the past year.
- The stock’s 52-week high is ₹84.29, and the 52-week low is ₹21.70.
Important Points Table:
| Company Name | Share Price (₹) | Market Cap (₹ Cr) | 52-Week High (₹) | 52-Week Low (₹) | 1 Month Return (%) | 1 Year Return (%) |
|---|---|---|---|---|---|---|
| Suzlon Energy | 74.26 | ₹1.01 Lakh Crores | ₹84.29 | ₹21.70 | 9.45% | 208.13% |
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Suzlon Energy: Strengthening Financial Position Through Property Sale
Suzlon Energy has made a major decision to sell its corporate office, ‘One Earth Property,’ in a ₹440 crore deal. This step has been taken to reinforce the company’s financial standing. The property has been sold to Oe Business Park Private Limited (OEBPPL), which is a special-purpose vehicle (SPV) associated with 360 ONE Alternate Asset Management. The deal is expected to be completed by September 5, 2024.
Details of the Deal
Suzlon Energy has announced the sale of its Pune-based corporate office, ‘One Earth Property,’ for ₹440 crores. The property has been sold to OEBPPL, and under this agreement, Suzlon will lease the property back for the next five years, ensuring no disruption in its day-to-day operations.
The agreement was signed on September 4, 2024, and the deal is set to be finalized on September 5, 2024. Suzlon’s shareholders had already approved this deal during an extraordinary general meeting held on March 25, 2022. By leasing the property back, the company ensures that its operational capabilities remain unaffected.
Suzlon’s Stock Performance in the Market
Suzlon Energy’s shares have shown a slight dip recently. On Wednesday, the stock closed at ₹74.26, reflecting a half-percent decline. The stock touched its 52-week high of ₹84.4 on August 13, 2024, but has since seen a decline of approximately 12% in the past month.
Long-Term Performance
Despite the recent dip, Suzlon Energy has delivered an outstanding 208% return over the past year. A year ago, the stock was trading below ₹24, but by August 13, 2024, it had surged to ₹84.29. Although the stock has pulled back slightly since then, it continues to provide long-term investors with solid returns.
Importance of the Deal and the Company’s Future
The main objective of this deal is to strengthen Suzlon’s financial position. The decision to sell the property while leasing it back demonstrates that the company is committed to maintaining smooth operations without any interruptions. This strategic move is expected to enhance Suzlon’s financial stability and operational efficiency in the coming years.
Q: Who did Suzlon Energy make the property deal with?
A: Suzlon made the ₹440 crore deal with Oe Business Park Private Limited (OEBPPL).
Q: How much has Suzlon’s share price dropped recently?
A: Suzlon’s share price has seen a decline of around half a percent, closing at ₹74.26.
Q: Has Suzlon fully sold its property?
A: While Suzlon has sold its property, it will lease it back for the next five years, ensuring no disruption in its operations.
Q: What has been Suzlon Energy’s return over the past year?
A: Suzlon has provided a stellar 208% return to its investors over the past year.
Q: Is it a good time to invest in Suzlon shares?
A: Given Suzlon’s recent deal and its improving financial position, long-term investment could be a viable option. However, it’s advisable to consider the market situation before making investment decisions.
