Suzlon board approves Rs 5,000 cr fund-raising plan
Wind turbine-maker Suzlon Energy today said its board has approved a proposal for raising Rs 5,000 crore through the issuance of shares or other securities.
By PTI |
NEW DELHI: Wind turbine-maker Suzlon Energy today said its board has approved a proposal for raising Rs 5,000 crore through the issuance of shares or other securities.
"The board of directors has approved the issuance of equity shares or FCCBs, GDRs, IDRs, or a combination of instruments, to an extent of Rs 5,000 crore," Suzlon Energy informed the Bombay Stock Exchange, without divulging a timeline for raising this amount.
Company officials later said that it was an enabling resolution for raising funds and there were no immediate plans to raise the capital.
The board has also reconstituted its Investors' Grievance Committee, with V Raghuraman as Chairman and Tulsi Tanti and Vinod Tanti as other members.
The company also informed that Girish Tanti has resigned as Executive Director of the company with effect from July 30, 2011.
The company registered a net profit of Rs 60 crore in the first quarter of FY'12, as against loss of Rs 912 crore in the first quarter of the previous financial year (2010-11).
Shares of Suzlon Energy were trading at Rs 54.10, up 3.24 per cent on the BSE.
"The board of directors has approved the issuance of equity shares or FCCBs, GDRs, IDRs, or a combination of instruments, to an extent of Rs 5,000 crore," Suzlon Energy informed the Bombay Stock Exchange, without divulging a timeline for raising this amount.
Company officials later said that it was an enabling resolution for raising funds and there were no immediate plans to raise the capital.
The board has also reconstituted its Investors' Grievance Committee, with V Raghuraman as Chairman and Tulsi Tanti and Vinod Tanti as other members.
The company also informed that Girish Tanti has resigned as Executive Director of the company with effect from July 30, 2011.
The company registered a net profit of Rs 60 crore in the first quarter of FY'12, as against loss of Rs 912 crore in the first quarter of the previous financial year (2010-11).
ADVERTISEMENT
Shares of Suzlon Energy were trading at Rs 54.10, up 3.24 per cent on the BSE.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
