In all likelihood, in FY24, we would also look at monetising those assets to make the balance sheet almost debt-free. Over a period of time, we would be looking at monetising those assets, of course, we will be doing that at the right value. There are a few non-core assets on the company’s books.
#Suzlon moneycontrol free#
Is there any internal target by when you will be net-debt free because we understand that you are looking at even selling some of your non-core assets? Therefore the Rs 3200 crore debt that is seen on 30th June 2022 balance sheet, would be reduced by Rs 900 crore once the entire rights issue call money has been made available to the company and of course that is in addition to the scheduled repayments which are ongoing from the operational cash flows of the company.Īs we approach the March 2023 balance sheet, it will be a much healthier, more linear balance sheet and significantly reduced down from the Rs 3200 crore debt number.
#Suzlon moneycontrol full#
Out of the Rs 600 crore, after the issue expenses, we would be reducing our debt by about Rs 583.5 crore, assuming, of course, full subscription to the rights issue.Īnd then, as and when we call the subsequent tranche or subsequent tranches, another Rs 316 crore would be paid from the subsequent tranches and so a total of Rs 900 crore from the overall Rs 1,200 crore of rights assuming full subscription would go towards reduction of debt, Now the Rs 1,200 crore on rights is spread across tranches. As you are aware, we are doing a rights issue of about Rs 1,200 crore, out of which, Rs 900 crore would go down towards debt repayment. As on 30th June, the consolidated debt in the balance sheet was about Rs 3200 crore. SUBMITLet me just clarify the debt numbers because I think certain quarters of the media and print this morning have probably not got the entire picture. So if volumes on day one were anything to go by, it was quite encouraging. The volumes we saw yesterday, both exchanges put together was about Rs 12-13 crore in the right entitlement so that was an encouraging sign because certainly people who are buying the right entitlement would certainly subscribe to the rights issue otherwise they would not buy the rights entitlement and that is a logical conclusion one can infer. It is a fairly automated process on the rights entitlement. We would not be aware of who has sold and who has bought. The right entitlement opened at a discount of about Rs 2.5 and then ended even lower and the bulk block deal suggests that BOB sold its rights entitlement?
It takes us a little bit of time to gather the feedback but overall the feedback I get to hear from the ground is quite positive and we are looking forward to a successful closure of the rights issue in the next week to ten days. What about the other key investors, banks, etc? What has been the first day’s feedback like?Ĭertainly Mr Shanghvi and the family would be participating for their share of the rights as well as the Tanti family.
Promoters and key investors like Dilip Shanghvi are participating in the rights issue that opened yesterday.
0 kommentar(er)
