Wind power agency Suzlon Energy Ltd on Friday mentioned its board elevating funds as much as Rs 2,000 crore, which represents practically 10% m-cap of the agency.

“Board accepted issuance of variety of absolutely paid-up fairness shares and / or convertible bonds (CBs), and / or non-convertible debt devices and / or some other devices and / or mixture of devices by means of a number of personal choices or certified establishments placement and / or
any mixture thereof, for an combination consideration not exceeding Rs 2,000 crore,” mentioned Suzlon in a inventory trade submitting.

On Friday, Suzlon’s scrip on BSE closed 0.85% increased at Rs 17.8.

ICICI Securities initiated protection on Suzlon Vitality with a purchase name in June finish. It assigned a goal value of Rs 22 for the renewable power inventory.

Suzlon Vitality logged a consolidated web revenue of Rs 319.99 crore for the March 2023 quarter led by decrease bills. It posted a consolidated web lack of Rs 205.52 crore within the quarter ended on March 31, 2022. Whole revenue from operations fell to Rs 1,699.96 crore in This fall from Rs 2,478.73 crore a 12 months in the past. Whole bills declined to Rs 1,628.39 crore within the March 2023 quarter from Rs 2,511.70 crore a 12 months in the past.