Suzlon plans to raise Rs 900 cr to reduce debt

Suzlon Energy today said it is considering to raise Rs 900 crore from the market to replace its existing debt.

Besides, the company is planning to issue securities to an extent of Rs 2,000 crore, Suzlon Energy said in a regulatory filing.

Suzlon's board is meeting on May 30 to "consider and approve" issuance of "redeemable non-convertible debentures/non-equity linked instruments in one or more tranches to an extent of Rs 900 crore on a private placement basis for replacement of existing debt."

However, this would be subject to the approval of shareholders.

It would also consider to "issue of the securities to an extent of Rs 2,000 crore, subject to the approval of the shareholders, at the ensuing 23rd annual general meeting of the company.