Suzlon Energy gets nod to raise Rs 5,000 crore

29 Sep 2011 Evaluate

Suzlon Energy, a wind power major has received shareholders approval to raise Rs 5,000 crore. At the company's annual general meeting (AGM) held on September 27, the company in a regulatory filing stated that the shareholders have approved the enabling resolution to issue securities to an extent of Rs 5,000 crore to facilitate raising of funds from time to time.

The board at its meeting held on August 01, had approved for raising Rs 5,000 crore through the issuance of shares or FCCBs, GDRs, IDRs, or a combination of instruments.  The company further stated that it was an enabling resolution for raising funds and there were no immediate plans to raise the capital.

Recently, the company passed a resolution on the ‘squeeze-out’ of its minority shareholders at the annual general meeting (AGM) of Repower Systems wherein the company would buy-out the remaining 4.8% stake in Germany's REpower Systems for 63 million euros in the next four months.

Suzlon energy is leader in wind energy in the India, which is world’s fifth largest wind energy market. Its business model has range of services that include development, manufacturing, marketing, EPC project delivery and operations and maintenance of wind turbine generators around the world.

Suzlon Energy Share Price

63.92 -0.25 (-0.39%)
23-Dec-2024 10:29 View Price Chart
Peers
Company Name CMP
Havells India 1664.40
Siemens 6705.00
Apar Inds 9869.45
Waaree Energies 2841.70
ABB India 6954.70
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