Suzlon Energy might issue up to Rs. 50 billion in convertibles

By Devika Patel

Knoxville, Tenn., Nov. 13 - Suzlon Energy Ltd. informed the Bombay Stock Exchange that it seeks to issue up to Rs. 50 billion in convertibles.

The company will seek approval of shareholders via a postal ballot. As previously reported, the company's board of directors approved the proposal at a meeting on Oct. 23.

Securities being considered are Global Depositary Receipts, American Depositary Receipts, convertible bonds, equity shares and other instruments convertible into or linked to equity shares.

Pune, India-based Suzlon Energy is a wind power company that manufactures, designs, develops and sells wind turbine generators.

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