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08 April, 2020 18:23 IST
Suzlon Energy board approves proposal for restructuring of debt of Co
Source: IRIS | 28 Feb, 2020, 04.19PM
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Suzlon Energy's board has approved a debt restructuring plan that will entail issues of shares, other instruments and divestment of assets, the company informed the bourses late Thursday.

The wind turbine maker also passed an enabling resolution for conversion of loan and debentures into equity. However, the company did not disclose the quantum of the debt that would be converted.

''The board has approved the company's proposal for restructuring of debt of the company and its certain identified subsidiaries formulated under the Reserve Bank of India (Prudential Framework for Resolution of Stressed Assets) Directions, 2019 issued by Reserve Bank of India vide its circular dated 7th June 2019,'' the company said in the regulatory filing.

The company will also issue equity or compulsory convertible debentures of the company on preferential basis to the promoters and some other entities worth Rs 4 billion.

Shares of the company declined Rs 0.16, or 5.65%, to settle at Rs 2.67. The total volume of shares traded was 5,336,376 at the BSE (Friday).



Suzlon Energy Limited   (Q,N,C,F)*

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