Indian equity fever wanes as Suzlon re-prices block sale
The controlling shareholders in India’s Suzlon Energy, which makes parts for wind turbines, were forced to revise an aggressively-priced sale of 60m shares on Monday as investors’ fever for Indian equities waned and the stock dropped more than 5%.
Suzlons founding Tanti family, which controls more than 60% of the company, tried to sell down a block of 60m existing shares at a tiny discount to Fridays closing price before revising the terms, bankers said.
Citi, which handled the sale, set a range of Rp91.2-Rp94, a discount of
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