InvestorQ : Is it true that Sun Pharma is going to incur a huge loss on its investments in Suzlon? What does that mean for Sun Pharma shareholders?
manisha Kolvenkar made post

Is it true that Sun Pharma is going to incur a huge loss on its investments in Suzlon? What does that mean for Sun Pharma shareholders?

Answer
image
Mahima Roy answered.
2 years ago
Follow

At the outset, let me clarify that the investment in Suzlon was not made by Sun Pharma but by the promoter Dilip Shanghvi in his personal capacity. So, this does not impact the shareholders of Sun Pharma in any way, whatsoever. Dilip Shanghvi, the promoter of Sun Pharmaceutical Industries, is staring at a big loss at a personal level. This has to do with his renewable power firm Suzlon Energy heading for bankruptcy courts by next week. It may be recollected that in 2014, Dilip Shanghvi had invested Rs.1,400 crore to pick up a23% stake in Suzlon. Now Shanghvi could end up being one of the top losers along in the Suzlon bankruptcy. Shanghvi and Tanti family hold close to 35% in Suzlon. This bankruptcy has been necessitated after Suzlon failed to come up with a viable debt recast plan by the end of December when the deadline expires. According to the Reserve Bank of India guidelines, the lenders had sought approval from a credit rating agency for the debt recast.

12 Views