Suzlon plans to raise Rs 900 cr to reduce debt

By PTI  
Wednesday, May 23, 2018

New Delhi, May 23 (PTI) Suzlon Energy today said it is considering to raise Rs 900 crore from the market to replace its existing debt.

Besides, the company is planning to issue securities to an extent of Rs 2,000 crore, Suzlon Energy said in a regulatory filing.

Suzlons board is meeting on May 30 to "consider and approve" issuance of "redeemable non-convertible debentures/non-equity linked instruments in one or more tranches to an extent of Rs 900 crore on a private placement basis for replacement of existing debt."

However, this would be subject to the approval of shareholders .

It would also consider to "issue of the securities to an extent of Rs 2,000 crore, subject to the approval of the shareholders, at the ensuing 23rd annual general meeting of the company." PTI KRH SBT SBT

Related Stories

Ola founders seek CCI nod for hiking stake in cab aggregator
Ola founders seek CCI nod for hiking stake in cab aggregator

Latest Stories

Scientists create 'golden eggs' that can treat cancer, hepatitis
Scientists create 'golden eggs' that can treat cancer, hepatitis
Nokia 5.1 Plus price starts at Rs 10,999; specifications, availability
Nokia 5.1 Plus price starts at Rs 10,999; specifications, availability
Maldives' president concedes loss to opposition candidate
Maldives' president concedes loss to opposition candidate
SPONSORED