Home » Finance » Suzlon climbs 2% on completion of CDR process

Suzlon climbs 2% on completion of CDR process

According to reports, Suzlon Energy, the world’s fifth largest wind turbine supplier climbed on Thursday after it announced the full implementation of its CDR package with the signing of the Master Restructuring Agreement (MRA), and the preferential allotment of equity shares to its lenders.

The company announced its plans to enter into restructuring of its debt in October, 2012 under India’s CDR mechanism. The package of Rs 95 billion / USD 1.8 billion was formally approved in January, 2013 by the company’s domestic lenders, a consortium of 19 banks.

Shares of the company are trading at Rs 14.60, up Rs 0.28, or 1.96% at the Bombay Stock Exchange (BSE) on Thursday at 9:28 a.m.The scrip has touched an intra-day high of Rs 14.64 and low of Rs 14.41.

The total volume of shares traded at the BSE is 140,485.In the earlier session, the shares lost 2.05%, or Rs 0.3, at Rs 14.32. Currently, the stock is trading down 52.52% from its 52-week high of Rs 30.75 and above 7.75% over the 52-week low of Rs 13.55.

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