The Suzlon board has approved the Rs 1,800 crore rights issue proceeds in order to buy Martifer's stake in REpower.
Tulsi Tanti, Chairman and MD of Suzlon expects 7-8% of dilution from the Rs 1,800 crore rights issue and said that the pricing and ratio would be decided in the next 3-4 weeks. He informed CNBC-TV that the current order book of the company was worth 3100 MW and he estimates the order book to grow by 20% in FY09. He added that he expects some orders from the European markets.
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