Business Standard

Suzlon Energy surges on debt restructuring report

The company, which last month defaulted on $200 million convertible bond redemption, has been admitted to corporate debt restructuring process.

Related News

Suzlon Energy has surged almost 11% to Rs 17.15 on back of over three-fold jump in trading volumes on reports that the makers has been admitted to corporate debt restructuring (CDR) process.

“Suzlon Energy, which last month defaulted on $200 million convertible bond redemption, has been admitted to India's corporate debt restructuring process,” the Reuters report suggests.

Loss-making Suzlon Group last month said it has started discussions with lenders for restructuring debt, including a two-year moratorium on repayment of term loans.

“The company has initiated discussions with its senior secured lenders and plans to restructure its debt with a maturity period of ten years under the mechanism, including a two-year moratorium on principal and interest payments on term-debt,” said in a statement.

The stock opened at Rs 15.50 on the BSE and has seen over three-fold surge in trading volumes. As many as a combined 28.04 million shares have already changed hands on the counter so far against an average sub 9 million shares that were traded daily in past two weeks on the BSE and NSE.

Read more on:   
|
|

Suzlon Energy surges on debt restructuring report

The company, which last month defaulted on $200 million convertible bond redemption, has been admitted to corporate debt restructuring process.

Suzlon Energy has surged almost 11% to Rs 17.15 on back of over three-fold jump in trading volumes on reports that the wind turbine makers has been admitted to corporate debt restructuring (CDR) process.

Suzlon Energy has surged almost 11% to Rs 17.15 on back of over three-fold jump in trading volumes on reports that the wind turbine makers has been admitted to corporate debt restructuring (CDR) process.

“Suzlon Energy, which last month defaulted on $200 million convertible bond redemption, has been admitted to India\'s corporate debt restructuring process,” the Reuters report suggests.

Loss-making Suzlon Group last month said it has started discussions with lenders for restructuring debt, including a two-year moratorium on repayment of term loans.

“The company has initiated discussions with its senior secured lenders and plans to restructure its debt with a maturity period of ten years under the CDR mechanism, including a two-year moratorium on principal and interest payments on term-debt,” Suzlon Energy said in a statement.

The stock opened at Rs 15.50 on the BSE and has seen over three-fold surge in trading volumes. As many as a combined 28.04 million shares have already changed hands on the counter so far against an average sub 9 million shares that were traded daily in past two weeks on the BSE and NSE.

image

Read More

BSE launches carbon index

Premier bourse BSE, in collaboration with the UK government, today launched BSE Carbonex, the first-of-its-kind index in India or any emerging market ...

Recommended for you

Quick Links

Market News

ECE Industries zooms 20% on promoter buying

Prakash Kumar Mohta bought an additional 4.1% stake in ECE Industries though open market on March 30, 2015.

Cardamom drops by 1.5% on profit-booking

Speculators booked profits at prevailing levels amid subdued spot demand

Mastek gains as US arm gets clearance to list shares on NYSE

The stock rallied 10% to Rs 429 on the National Stock Exchange.

Mentha oil gains by 1.4% on high demand

Traders created fresh positions amid pick-up in demand from consuming industries

Lead fell by 0.2% on weak global cues

Speculators reduced positions amid weak global cues and subdued domestic demand

 

Back to Top