Suzlon Energy launches 1,200 Crore Rights Issue

By Anand October 11, 2022

Suzlon Energy, a Pune-based wind turbine maker, on Tuesday said it has opened its rights issue to raise up to Rs 1,200 crore.

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The company will issue up to 240 crores of partially paid equity shares for cash, at a price of ₹5 per share, with a premium of ₹3 per right equity share, totaling ₹1,200 crores.

Credit: Social Media

This in turn will also unlock working capital for the company to further increase its project execution.

Credit: Social Media

According to the offer letter, the company currently has a debt of Rs 3,272 crore, a portion of which will be repaid using the proceeds of the rights issue.

Credit: Social Media

Earlier this month, Suzlon Energy said its promoters have reaffirmed their participation in the rights issue following the death of its founder and CMD Tulsi Tanti.

Credit: Social Media

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