Stocks

Suzlon jumps as debt plan gets nod

Our Bureau Chennai | Updated on April 08, 2020

Shares of Suzlon Energy jumped 4.55 per cent on NSE at ₹2.30 on Wednesday after the company said its resolution plan for restructuring of total debt facilities has been approved by 100 per cent of lenders by value, and 100 per cent of lenders by numbers.

In a disclosure to the stock exchanges on Tuesday, the wind energy major said it’s total debt as on March 31 stood at ₹14,262.06 crore, which also includes outstanding foreign currency convertible bonds worth ₹1,376.30 crore (around $172 million). Of that, the outstanding borrowing from banks and financial institutions is ₹12,885.75 crore, Suzlon said in the notice.

Published on April 08, 2020

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