1453204749_I0PNi1_wind-mill-Suzlon_UG-870.jpg 
SBICAP had earlier mentioned the name of Adani Green Energy as the Target Company in its reporting instead of Suzlon Energy
Photo Credit : Umesh Goswami
SBICAP Trustee clarified on Monday that additional equity pledge had been crated in favour of Suzlon Energy and not Adani Green Energy.
SBICAP had earlier mentioned the name of Adani Green Energy as the Target Company in its reporting instead of Suzlon Energy.
“SBICAP Trustee has recently reported creation of encumbrance over the shares held by the Promoters in the Company in favour of SBICAP Trustee in terms of Regulation 29(2) of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Please note that, inadvertently; SBICAP Trustee had mentioned name of ‘Adani Green Energy Limited’ as the ‘Target Company’ in its reporting, instead of ‘Suzlon Energy Limited’. The said error has since been rectified," Suzlon Energy notified in an exchange filing today.
With this, the total equity pledged with SBICAP Trustee increases to 9.92 per cent.
SBICAP Trustee is acting as trustees for the benefit of REC-led consortium, who have financed the company.
Suzlon Energy posted strong financial numbers for the quarter ended June 30, 2022. Its revenue jumped 21 per cent year-on-year to Rs 1,378 crore and a net profit of Rs 2,433 crore. The performance came on the back of exceptional gain primarily on account of conversion of financial instrument pursuant to refinancing.
Suzlon Energy shares were trading 19.89 per cent higher on Monday on the NSE. At 1:50 pm it was trading at Rs 10.55 apiece.