Tundra buys more into Windforce

Tundra Sustainable Frontier Fund yesterday picked up 27.3 million shares of Windforce for Rs. 547 million, further increasing its stake.

Overall, Windforce saw 29.5 million shares change hands for Rs. 590.7 million, accounting for 32% of the turnover yesterday. The block of 27.36 million shares were done at Rs. 20 each via two crossings. The share gained by 20 cents.

Tundra entered Windforce via the IPO and as at 31 March 2024 held 70.5 million shares or 5.22% stake as the fourth largest shareholder. It is likely to have increased the stake to over 7% following yesterday’s purchase.

The seller was one of Windforce founder-shareholders Debug Group. Debug Investments as at end March held 44.6 million shares of 3.3% and Debug Renewable Energy Investment also held 29.4 million shares or 2.18% separately.