NEW DELHI: Even as Suzlon Energy kick-started its Rs 1,200 crore rights issue, the company on Tuesday said it will continue to improve its financial position through its liability management programme, and through the sale of non-core assets.
It has Rs 3,272 crore debt on its books. While addressing a virtual press conference, Suzlon Energy chief financial officer (CFO) Himanshu Mody said the firm would be able to pare its debt by Rs .583.5 crore if its rights issue of Rs 1,200 gets fully subscribed. He said the firm will be able to repay the rest of the debt in the next eight years.
“Suzlon Energy... has opened its rights issue to raise up to Rs 1,200 crore on October 11, 2022. The entitlement ratio for the rights issue is 5:21 (five shares for every twenty-one equity shares held by eligible shareholders of the company, as on the record date of October 4, 2022),” said the company in a statement.