The long awaited private equity placement in Suzlon is gathering steam. Stake sale talks have entered the last leg. A few significant names doing rounds include TPG and Carlyle among others. The equity dilution is likely to be more than 10%, but an open offer is unlikely. However, there has been no official comment yet on the likely PE names.
Suzlon to repay loans of close to USD 200 million which they have to pay in two tranches. In the first tranch, which in April they have to pay USD 30 million and the bigger chunk of USD 175 million has to get paid before May. So my sense is that that is why they are hurrying up and the deal may get stuck by end of this month or early April because that is where the pressure is going to be on Suzlon to repay this debt for Martifer.
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