News of Suzlon Energy’s debt restructuring has failed to enthuse shareholders.
A day after SBI, the lead consortium of lenders, okayed the resolution plan of Suzlon and its certain identified subsidiaries, at the end of the trading day, the company’s shares closed at Rs 2, up from the previous day’s close of Rs 1.91. This was on a day when Sensex closed 1,028 points up at 29,468.
Suzlon has a debt pile of $1.68 billion and has to repay loans it has taken by a consortium of 18 banks led by the State Bank of India and Indian Renewable Energy Development Agency (IREDA).
