Suzlon Energy promoters sell 2.11% to raise Rs.63 crores funds for CDR process

Mr.Tulsi Tanti, Chairman and Managing Director of Suzlon Energy Ltd on behalf of the promoter group have announced that they have sold 3.75 crores shares for a total consideration of approximately Rs.63 crores, representing approximately 2.11% of the paid-up capital of the company.

The promoters will infuse the funds into the company by suitable mode at the earliest, subject to applicable law to comply with equity infusion requirement under CDR mechanism.

With this sale, the promoter's stake in the company has reduced to 50.65% of the paid-up capital.

The Suzlon Energy Ltd stock closed the day at Rs.17.60, down by Rs.0.30 or 1.68%. The stock hit an intraday high of Rs.17.95 and low of Rs.16.95.

The total traded quantity was 83.98 lakhs compared to 2 week average of 48.54 lahks.

Source : Equity Bulls

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