Suzlon Energy board approves proposal for raising Rs 2,000 cr fund
It added that the company would seek shareholder approval through a postal ballot.
Suzlon Energy Ltd said on Friday that its board has approved a proposal to raise up to Rs 2,000 crore.
The BSE filing showed that the company will explore various financial avenues to increase the amount.
The Board of Directors has agreed to “issue such number of fully paid shares, convertible debentures, non-convertible debt instruments and/or any other instruments and/or combination of instruments with or without separable collateral with an exercisable right by Suzlon Energy said in the exchange filing that the warrant holders are to transfer or subscribe to shares of equity or otherwise … in one or more tranches, denominated in … for an aggregate amount not exceeding Rs 2,000 crore.”
It added that the company would seek shareholder approval through a postal ballot.
First published: Jul 07 2023 | 11:36 p.m ist