May 21, 2012 04:20 PM IST | Source: Moneycontrol.com

Suzlon surges 6% on fund raising news

Suzlon Energy, one of the largest wind turbine suppliers among top five companies in world, rallied over 6% as the company is in advance stage to raise USD 300 million to meet FCCB obligation, reports CNBC-TV18.

Suzlon surges 6% on fund raising news

Suzlon Energy, one of the largest wind turbine suppliers among top five companies in world, rallied over 6% as the company is in advance stage to raise USD 300 million to meet FCCB obligation, reports CNBC-TV18.

Suzlon is seeking short-term extension from bondholders. It already sought up to 45 days extension from bondholders. Foreign currency convertible bonds (FCCBs) of the company are due for redemption on June 12

At 15:10 hours IST, the share was trading at Rs 21.40, up 6.20%. Market capitalisation of the company stands at Rs 3,803.56 crore.
 
Its trading volumes increased 11% to 46,90,048 shares as compared to its 5-day average of 42,28,961 shares.

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