Suzlon Energy to consider share issue on February 27; stock gains 10% The board to consider and approve the issuance of the equity shares and/or equity-linked instruments and/or convertible securities of the Company in terms of the Company's proposed resolution plan by way of preferential issue, private placement or any other method permissible in terms of the applicable regulations.
Suzlon Energy shares hit the upper circuit after reports emerged that SBI has approved the company’s resolution plan. The company’s Rs 12,700 crore debt will be converted into sustainable and unsustainable debt and will be repaid over 20years.
Suzlon Energy reports widening of net loss to Rs 743cr in Q3 Total income from operations declined to Rs 672.99 crore in the quarter ended on December 31, 2019, from Rs 1,112.34 crore a year ago, the company said in a filing to the BSE.
Suzlon offers lenders 68% discount on debt recast deal: Report The Pune-based company proposes to swap its ₹11,300 crore of outstanding debt into ₹3,600 crore of new debt, said people in the know.Lenders would now have to decide if this offer is better than what they could get if they tip Suzlon into bankruptcy court
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State-run Union Bank of India has tagged Suzlon Energy Ltd as a bad loan and more banks are expected to follow suit as the stressed wind turbine maker has struggled to repay its lenders, two people aware of the development said.
In the quarter ended 30 June, Union Bank has update...
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