 "Dilip Shanghvi")
Suzlon Energy, on Friday said, that Dilip Shanghvi, the founder of Sun Pharmaceuticals, had conveyed to the promoters of the company his intentions to fully participate in the firm's upcoming Rs 1,200-cr rights issue. The rights issue will open on October 11, closing on October 20.
Shanghvi had bought a 23 per cent stake in Suzlon for Rs Rs 1,800 crore in 2015, helping the company to return to profitability after it became India’s largest convertible-bond defaulter in 2012.
In a letter to the Suzlon promoters, Shanghvi said that he would subscribe for additional shares as part of the rights
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