Suzlon feels financial woes over with REC-led refinance, to raise `1,200 cr
Suzlon Group feels the financial difficulties that afflicted the wind turbine maker are behind it, with the over Rs 3,000-crore debt refinance led by REC.
The Pune-based company, which once struggled to pay its over Rs 6,500 crore debt, feels its order book, pipeline of potential business and government policies are other tailwinds that will offer support, a senior official has said.
It is looking to raise up to Rs 1,200 crore through a rights issue of shares by the fiscal-end to pare the refinanced debt of Rs 3,000 crore, its Chief Financial Officer Himanshu Mody told PTI.
