The promoters of debt-laden Suzlon Energy sold 2.11 per cent stake to raise Rs 63 crore. This was part of the corporate debt restructuring (CDR) plan the company is negotiating with a consortium of banks.
Lenders had asked the company’s promoters to bring in Rs 250 crore if they were to restructure the loans.
The promoters would infuse the funds into the company by suitable mode at the earliest, subject to applicable law, to comply with equity infusion requirement under the CDR mechanism, said the Pune-based company in a statement.
Tulsi Tanti, Chairman and Managing Director, on behalf of the promoter group on Wednesday informed that the promoters have sold 3.75 crore shares.
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