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Suzlon Energy hopeful of signing CDR package, stock rallies

The conditions have been finalised between the company and a consortium of lenders are waiting for them to sign it, reports suggest

SI Reporter  |  Mumbai 

Suzlon Energy has surged over 4% to Rs 19.75 on back of heavy volumes on hopes of signing a corporate debt restructuring (CDR) package with consortium of lenders.

The stock opened at Rs 19.70 and hit a high of Rs 19.90 on BSE. As many as a combined 8.1 million shares have already changed hands on the counter in early morning deals on both the exchanges.

“The conditions have been finalised with and a consortium of lenders are waiting for them to sign it,” the Business Standard report suggests quoting a banker who is a part of the consortium which has more than 11 banks.

The company’s net debt would be around Rs 13,000 crore, which would be restructured.

First Published: Thu, January 17 2013. 09:44 IST
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