Indian Energy Company Raises $552 Million

The share price for Suzlon Energy's qualified institutional placement was reduced after the new U.S. energy bill failed to extend tax credits for wind farm developers beyond 2008

Suzlon Energy, India's largest and the world's fifth largest manufacturer of wind turbine generators, has raised approximately $552 million from the sale of new shares through a qualified institutional placement (QIP). The deal, which is among the larger QIPs in India this year, saw solid demand, especially from existing shareholders, and the bookrunners were able to use part of the upsize option to increase the offering above the initial $500 million.

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