Suzlon Energy launches QIP to raise up to Rs2,000 crore

Suzlon Energy launches QIP to raise up to Rs2,000 crore

• By Staff Writer

Wind turbine maker Suzlon Energy on Wednesday said its board had approved launching a so-called qualified institutional placement (QIP) offering to raise as much as Rs2,000 crore, the company said in a stock exchange filing.

The company said that it has fixed a floor price of Rs18.44 per share for the QIP, which is a 5.7% discount from the stock's closing price of Rs19.56 per share on Wednesday on the BSE.

The company can offer a discount of up to 5% on the floor price to investors as per Sebi regulations.