Suzlon Energy board approves proposal for raising Rs 2,000 cr fund

Suzlon Energy Ltd on Friday said its board has approved a proposal to raise up to Rs 2,000 crore.

The company will explore various financial routes to raise the amount, a BSE filing showed.

The board approved "issuance of such number of fully paid-up equity shares and/or convertible bonds and / or non-convertible debt instruments and / or any other instruments and / or combination of instruments with or without detachable warrants with a right exercisable by the warrant holders to convert or subscribe to the equity shares or otherwise...in one or more tranches, denominated...for an aggregate consideration not exceeding Rs 2,000 crore," Suzlon Energy said in the exchange filing.

The company will seek shareholders' approval through a postal ballot, it said.