Suzlon Energy plans to raise Rs 434 cr in world markets

Wind power major Suzlon Energy plans to raise $90 million (about Rs 434 crore) through issue of convertible bonds in international markets.
 
The company would offer zero coupon convertible bonds, it said, in a filing to the Bombay Stock Exchange today.
Suzlon would offer convertible bonds "with an aggregate principal amount of up to $70 million with an option to up the issue size to $90 million". 

The firm can offer a total of $200 million worth zero coupon convertible bonds due October 2012, as per an agreement with the stakeholders.

According to the filing, the initial conversion price of the convertible bonds (up to $90 million) would be determined based on regulatory norms, among others.

Shares of the company closed at Rs 94.20, down 1.46 per cent on the Bombay Stock Exchange.