The company is losing ground to competitors such as Vestas Wind Systems A/S and Senvion SA, according to Bloomberg NEF.Ratings assessor Care Ratings Ltd. cut the long-term bank facilities of Suzlon to default from BB in April after it was unable to meet a repayment obligation to its lenders. The company has $172 million in foreign-currency, convertible bonds due in July. Tags Dilip Shanghvi Suzlon Energy Tulsi Tanti Vestas Wind Systems . Indian billionaire Dilip Shanghvi intends to stay invested in unprofitable wind-turbine maker Suzlon Energy Ltd. even though the company’s financial health has worsened over the last few years.

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Eyebrows were understandably raised about what Shanghvi, the founder of Sun Pharmaceuticals saw in the heavily indebted wind turbine maker as he cut a cheque for Rs.18 billion. .The company’s market value plunged to 33 billion rupees on Wednesday from a high of 109 billion rupees, a few weeks after Shanghvi announced the investment.You are reading this because you value good, intelligent and objective journalism.
*T&C Apply You May Also Like. We thank you for your time and your trust.You also know that the news media is facing an unprecedented crisis.

New Delhi: Wind turbine maker Suzlon Energy has signed definitive agreements with Dilip Shanghvi Family and Associates (DSA) for equity investments of Rs 1,800 crore. As you may have noticed, we do not flinch from spending whatever it takes to make sure our reporters reach where the story is. It is likely that you are also hearing of the brutal layoffs and pay-cuts hitting the industry. We are building India’s most ambitious and energetic news platform. For us to continue bringing quality journalism, we need readers like you to pay for it. Coupon code: PRO365. Special Offer: Subscribe to Moneycontrol PRO at ₹1 per day for the first year.

We also have the country’s most robust editing and fact-checking team, finest news photographers and video professionals. Indian billionaire Dilip Shanghvi intends to stay invested in unprofitable wind-turbine maker “If I look at outcome then clearly that investment hasn’t had a great outcome,” Shanghvi said in an interview in Mumbai, adding that Suzlon has to solve its own challenges. But a big one is that good people are not yet paying enough for good journalism.We have a newsroom filled with talented young reporters.

And we aren’t even three yet. Our stellar coronavirus coverage is a good example. Suzlon still hasn’t exited India’s debt-restructuring program, missing deadlines since 2017.Shanghvi said his investment was based on the assessment that within the renewable-energy sector Suzlon had “the product and the future pipeline, which will allow them to grow.”Over the past two years, India’s shift to auctions for building wind projects from an earlier fixed-tariff program increased competition among suppliers, diluting Suzlon’s market share and putting pressure on its profit margin. There are many reasons why the media’s economics is broken. It had been barely two months since Dilip Shanghvi Family and Associates (DSA) picked up 23% stake in Suzlon Energy at Rs.18 per share in early 2015. “If I look at outcome then clearly that investment hasn’t had a great outcome,” Shanghvi said in an interview in Mumbai, adding that Suzlon has to solve its own challenges. The open offer price for 157.64 crore shares is Rs 18 per scrip, a total of about Rs 2,837.52 crore.

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