On the back of a possible debt recast, Suzlon Energy shares were up 9.76 per cent in BSE. It was amongst the the top gainers, and is currently trading at Rs 3.60.
Suzlon’s shares are rallying as the company is considering to restructure $1.68 billion of new debt, which translates into a 68 per cent haircut, according to reports.
An inter-creditor agreement was signed by the company’s secured creditors in July to find a solution to Suzlon’s debt crisis.
The efforts seem to have enthused the markets. Suzlon Energy’s stock has moved up almost 50 per cent in the last five days on the back of these developments.
