update

Suzlon Energy surges on plan of refinancing Rs 4,500 crore debt in FY15.

• Suzlon Group comprises of Suzlon Energy and its subsidiaries, including Repower Systems SE. Suzlon Energy is leader in wind energy in the India, which is world’s fifth largest wind energy market. Its business model has range of services that include development, manufacturing, marketing, EPC project delivery and operations and maintenance of wind turbine generators around the world.
• Meanwhile, the company is planning to list its European subsidiary Senvion. The company is estimating a valuation of about Rs 16,000 crore for Senvion and 25 per cent dilution could generate about Rs 4,000 crore.
• The restructuring has come as a breather for the company, which has been making a loss since FY10 with its business impacted by slowdown, removal of tax concessions for wind power in India, high interest burden and stiff competition from Chinese companies.
• As part of its turnaround plan, Suzlon Energy is reportedly all set to refinance around Rs 4,500 crore of its debt in FY15. Last month, the company's international bond holders agreed on a cashless restructuring of $485 million bonds, two years after the company defaulted in paying one set of bond holders.
• The promoters holding in the company stood at 37.81 % while Institutions and Non-Institutions held 31.41 % and 30.50 % respectively.
• The BSE group 'T' stock of face value Rs. 2 has touched a 52 week high of Rs. 36.80 on 12-Jun-2014 and a 52 week low of Rs. 5.72 on 28-Aug-2013.
• Last one week high and low of the scrip stood at Rs. 23.60 and Rs. 20.55 respectively. The current market cap of the company is Rs. 6056.71 crore.
• The scrip opened at Rs. 21.90 and has touched a high and low of Rs. 21.90 and Rs. 21.40 respectively. So far 2081181 shares were traded on the counter.
• Suzlon Energy is currently trading at Rs. 21.90, up by 1.00 points or 4.78% from its previous closing of Rs. 20.90 on the BSE.