The
promoters
–
under
Indian
corporate
law
a
group
comprising
directors
and
others
with
influence
over
a
company
–
raised
2.4bn
rupees
($44m)
through
the
sale,
which
will
be
used
to
meet
the
terms
of
Suzlon’s
recent
debt-restructuring
agreement
with
its
key
domestic
lenders.
Suzlon’s
shares
closed
34%
lower
at
16
rupees
following
the
announcement.
Unveiled
in
January,
the
deal
under
India’s
CDR
(corporate
debt
restructuring)
mechanism
with
a
consortium
of
19
banks
saw
Suzlon
agree
a
$1.8bn
package
that
gave
it
more
time
to
repay
loans
and
lower
interest
rates.
The
agreement
included…
