Suzlon said its service business continues to do well while forging and foundry business SE Forge consolidated on its foundation for future growth. The company has a net cash of Rs 599 crore by September 2023, which is a marked shift from net debt of Rs 1,180 crore in March 2023.
With the termination of the agreement, the investor group s nominee director on Suzlon s board, Hiten Timbadia, has also resigned with effect from September 26, Suzlon added
The company says 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