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Suzlon to raise Rs1,800 crore through rights

Suzlon to raise Rs1,800 crore through rights
PTI
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First Published: Thu, Sep 25 2008. 02 47 PM IST
Updated: Thu, Sep 25 2008. 02 47 PM IST
Mumbai: Wind power company Suzlon Energy said on 25 September it would raise up to Rs1,800 crore ($390 million) through issue of equity shares to its shareholders on rights basis.
A meeting of the board of directors of the company would be held on 27 September, to consider the proposal to undertake a rights issue of its equity shares to an extent of Rs1,800 crore, the company said in a filing to the Bombay Stock Exchange.
Earlier last month, the shareholders at the annual general meeting had approved a proposal to raise Rs5,000 crore through issue of foreign-currency convertible bonds (FCCBs), global depository receipts or other securities.
The firm’s shares were trading at Rs184.65, down 5.8% on the BSE in the afternoon.
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First Published: Thu, Sep 25 2008. 02 47 PM IST