Suzlon करेगा निवेशक का Share Dilution निवेशक माला माल या बर्बाद

Shares of SuzlonNSE 5.00 % advanced nearly 5 per cent in Tuesday’s trade after the company on Monday said an SBI-led consortium of lenders has approved a debt resolution plan.

The scrip traded 4.71 per cent up at Rs 2 at around 9.30 am (IST), while the benchmark BSE Sensex was up 333 points or over 1 per cent at 28,787 at around the same time.
At present, the total debt of the company from the lenders stands at around Rs 12,900 crore.

Besides, the company has called a meeting of bondholders to approve the resolution plan for an outstanding $172 million borrowed from them via bonds.

“State Bank of India, the lead bank of the consortium of lenders, has, vide its e-mail dated March 29, 2020, conveyed that the resolution plan of the company and its certain identified subsidiaries... was put to vote by the consortium of the lenders and which has since been approved by 100 per cent of lenders by value, and 100 per cent of lenders by numbers," the company said in a regulatory filing to the BSE.

According to the filing, the resolution plan has been unanimously approved by the consortium.
The company is working on finalising various definitive agreements with the lenders, it added.

In another regulatory filing, the company has told the Singapore Exchange Securities Trading Ltd that it has called a meeting of bondholders on April 6 seeking their nod for resolution of the outstanding $172 million bonds.
The company has given few options to bondholders under the proposed resolution plan seeking hair cut.

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