suzlon-energy-prices-qip-below-initial-guidance

Suzlon Energy prices QIP below initial guidance

The price is adjusted downwards after the company's shares tumble on the back of a new US energy bill. The upsize option, meanwhile, is partially exercised.
Suzlon Energy, IndiaÆs largest and the worldÆs fifth largest manufacturer of wind turbine generators, has raised approximately $552 million from the sale of new shares through a qualified institutional placement QIP. The deal, which is among the larger QIPs in India this year, saw solid demand, especially from existing shareholders, and the bookrunners were able to use part of the upsize option to increase the offering above the initial $500 million.

However, investors also made it clear they werenÆt prepared to pay just any price even for this fast-growing company and the price was ultimately fixed below the initial guidance at Rs1,917 per share. When the books closed on Friday evening after 18...
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