Suzlon to raise Rs 5,000 cr; to raise FIIs limit upto 49 pc

MUMBAI: Wind power major Suzlon Energy on Thursday said its shareholders had approved the proposal entailing a fund raising plan of upto Rs 5,000 crore through the issuance of securities both in domestic as well as in overseas markets.

The shareholders had given nod to increase the ceiling limit on total FIIs holding to 49 per cent from 24 per cent in the company, it said.

In a filing to the Bombay Stock Exchange, Suzlon said the shareholders at their annual general meeting had given the board of directors authority to raise Rs 5,000 crore by issue of shares, Foreign Currency Convertible Bonds, Global Depository Receipts or by any other equity linked instruments.

Shares of Suzlon Energy today closed at Rs 90.45 on the BSE, up 4.87 per cent from the previous close.