Suzlon Energy raised $201.91 million – $108.04 million through GDR issue (Rs 90.09 /share) and $ 93.87 million through zero coupon convertible bonds
Suzlon has raised $108.04 million through the issue of GDRs and another $93.87 million through bonds, the company said in a statement to BSE. The GDRs will be listed on the Luxembourg Stock Exchange.
Suzlon has issued 14.6 million GDRs priced at $7.40 each and each GDR would represent four equity shares of the company.
Suzlon Energy will use its GDR proceeds to reduce existing debts and fund current expansion projects, said Mr R. Madangopal, Senior Analyst at Centrum Brokerage.
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