Debt-laden Suzlon Energy, which last month got formal approval from banks to restructure its loans, says it can raise about USD 0.5 billion from selling non-critical assets. However, Kirti Vagadia, its CFO, maintained that there is no plan to sell its German unit REpower, which is among the fastest growing in the industry.
Diwakar Gupta, MD & CFO of State Bank of India informed that they are undertaking road shows to focus on under valuation of public sector banks and to attract foreign institutional investors.
Pratip Chaudhuri, chairman, State Bank of India (SBI), says that the bank is urging KFA to take action on urgent basis and a consortium meeting is scheduled for next week.
As analysts have been slamming the stock for the high debt/equity ratio, Tanti says the company’s net debt to equity ratio stands at 1.65 times. And says, "The company is targeting a debt/equity ratio of 1.4 times by end FY12, and hope to have it at 1 by end FY13."