Suzlon to raise 5,000 cr through share issue

Suzlon to raise 5,000 cr through share issue

New Delhi: Wind turbine-maker Suzlon Energy Monday said it has received board approval to raise 5,000 crore through the issuance of shares or other means.

“The board of directors has approved issuance of equity shares or FCCBs, GD or combination of instruments to an extent of 5,000 crore," Suzlon Energy informed the Bombay Stock Exchange without divulging the timeline for raising this amount.

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 30 July, 2011.

The company registered a net profit of 60 crore in the first quarter of FY12, as against loss of 912 crore in the first quarter of the previous financial year (2010-11).

Shares of Suzlon Energy were trading at 54.05, up 3.15% on the BSE.

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