Suzlon Energy board approves Rs 2000 crore fund raising plan - Check details

Leading renewable energy solution provider Suzlon Group announced in an exchange filing on Friday that its board has approved raising funds upto Rs 2,000 crore.

The BSE filing showed that the renewable energe major will be exploring multiple financial routes to raise this amount.

In the exchange filing, Suzlon said that its board approved "issuance of such number of fully paid-up equity shares and / or convertible bonds (CBs), and / or non-convertible debt instruments and / or any other instruments and / or combination of instruments with or without detachable warrants with a right exercisable by the warrant holders to convert or subscribe to the equity shares or otherwise, in registered or bearer form (the “Securities”), or any combination of the Securities, in one or more tranches, denominated in Indian Rupee, through one or more private offerings or qualified institutions placement and / or any combination thereof, for an aggregate consideration not exceeding Rs 2,000 Crores."

The company further added that the raising of funds will be conducted in accordance with the applicable laws including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 and the Companies Act, 2013, and it will be subject to receipt of all necessary approvals.

It further added that it will seek shareholders' approval via a postal ballot.