Suzlon Energy Limited (NSEI:SUZLON) announced a private placement of shares to be issued at a price of INR 2.45 per share for proceeds of INR 3,635,000,000 and compulsorily convertible debentures for proceeds of INR 500,000,000 for gross proceeds of INR 4,135,000,000 on May 18, 2020. The transaction will include participation from Zukunft Ventures GmbH for INR 120,000,000, Belgrave Investment Fund for INR 135,000,000, Indrani Patnaik for INR 200,000,000, returning investor Tulsi Tanti for INR 1000,000,000, Amrik Singh And Sons Crane Services Private Limited for INR 250,000,000, Rajasthan Gums (p) Ltd. for INR 100,000,000, Giriraj Enterprises for INR 150,000,000, Techno Electric & Engineering Company Limited (NSEI:TECHNOE) for INR 50,000,000 and KRBL Limited (NSEI:KRBL) for INR 50,000,000, Dilip Shanghvi's son in law and companies owned by him and his entities for INR 150,000,000 in equity and another INR 150,000,000 in debt, as well as over a hundred associates of company's customers, vendors, service providers chipping in with funds. The stake acquired by Tulsi Tanti in the company will fall from 19.79% to 17.17%.

The face value of shares is INR 2 per share. The transaction has been approved by the shareholders of the company.