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Suzlon Energy promoters pledge 36% of their stake

Suzlon Energy promoters pledge 36% of their stake
PTI
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First Published: Tue, Aug 02 2011. 07 39 PM IST
Updated: Tue, Aug 02 2011. 07 39 PM IST
New Delhi: Wind turbine maker Suzlon Energy on Tuesday said its promoters have pledged 36% of their stake in the company.
Pranav Tanti, one of the promoters of Suzlon Energy pledged 72% of the total number of shares held by him in the company. It accounts for 2.39% shares of the company, Suzlon said in a filing to the Bombay Stock Exchange (BSE).
Sanman Holdings Private Ltd, another promoter of Suzlon Energy, has revoked pledged shares of the company which account for 1.97% stake, the filing added.
With these pledging of shares by the promoters, the total percentage of shares pledged stands at 35.83%.
The company board recently approved a proposal to raise Rs5,000 crore through issue of shares. Funds can be raised either by the way of issuance of equity shares, foreign currency convertible bonds, global depository receipts, or other such equity-linked products.
Shares of Suzlon Energy closed at Rs52.15, down 3.69% on BSE.
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First Published: Tue, Aug 02 2011. 07 39 PM IST