Suzlon Energy’s promoters have sold part of their stake to raise around Rs 63 crore for corporate debt restructuring (CDR) process. As a part of this process, the promoters of the company are required to infuse certain funds into the company upfront for successful implementation of the CDR scheme.
Tulsi Tanti, chairman and managing director of the company on behalf of the promoter group have sold 37.5 million shares for a total consideration of about Rs 63 crore representing around 2.11% of the paid-up capital of the company.
The promoters group holding in the company stands reduced to 50.65% of the paid-up capital. The promoters held 52.76% stake in the world’s fifth largest wind turbine supplier at the end of September 2012 quarter.
