Suzlon Energy,world's fifth largest wind turbine supplier,announced that Mr Tulsi Tanti CMD of Suzlon Energy on behalf of the promoter group sold 2.11%stake for a total consideration of INR 630 million to raise funds for Corporate Debt Restructuring process.
Recently,the company has started the process to comprehensively address its liabilities through the CDR mechanism.As part of this process,the promoters of the company are required to infuse certain funds into the company upfront for successful implementation of the CDR scheme.
Source:
http://www.steelguru.com/indian_news/Suzlon_Energy_promoters_sell_211pct_stake/296498.html
