Mody said that the company would have a much leaner balance sheet after the issue and there would be no decline in the promoters' holding after the rights issue. Inga Ventures is the lead manager to the issue. The Tanti-led promoter group, which includes members of his family and siblings, collectively hold 14.5 per cent in the company after lenders converted some loans into an equity holding in the company as a part of a debt restructuring plan. Shanghvi had bought a 23 per cent stake in Suzlon for Rs 1,800 crore in 2015, helping the company to return to profitability after it became India’s largest convertible-bond defaulter in 2012. Last week, Dilip Shanghvi, the founder of Sun Pharmaceuticals, had conveyed to the promoters of the company his intentions to fully participate in the firm's rights issue.
Suzlon promoters and promoter group have confirmed their participation and they will be fully subscribing to the extent of their rights entitlement, Mody said. The company will issue up to 2,400 million partly paid-up equity shares at an issue price of Rs 5 per share aggregating to Rs 1,200 crore. The top management of the company at a press briefing said they were committed to carry forward. The company is one of the leading renewable energy solutions providers in the world that has installed around 17 GW of wind energy capacity across 18 countries all over the world. With a footprint across 17 countries Suzlon Energy has total global installed capacity of 19.44 GW. The company will be able to pay the remaining debt in the next eight years," Mody said in a virtual briefing on Tuesday. Suzlon Energy limited was established in 1995 and is a wind turbine supplier based in Pune, Maharashtra. company latest article and updates, company results, business news on Moneycontrol.
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The proceeds of the rights issue in the first phase would be Rs 583.5 crore assuming full subscription. Buy Suzlon Moneycontrol, tomcat bait stations, sinus headache cure, moneycontrol share price live today, money order fees at, 51 discount. Suzlon Energy Company News Article Suzlon Energy share /stock news. You are Here : Moneycontrol Forum Forum Topics Stocks Suzlon.
“The total debt of the company was Rs 3,200 crore as of June 30, 2022. Browse Suzlon Energy stock discussion, ideas, questions and answers online at.
RSS feed is a XML file that provides summaries, including links to the full versions of the content.It is available through RSS feed reader or through some browsers. Mody also said that the company was looking to repay its remaining debt in eight years. RSS stands for Really Simple Syndication. Suzlon Energy Chief Financial Officer (CFO) Himanshu Mody said on Tuesday that the company would be able to pare its debt by Rs 583.5 crore, if its rights issue worth Rs 1,200 crore, gets fully subscribed.
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