Suzlon Energy's board informed the exchange post market hours on Thursday has approved a debt restructuring plan that will entail issues of shares other instruments and divestment of assets.
The stock is currently trading at Rs2.64, down by Rs0.19 or 6.71% from its previous closing of Rs2.83 on the BSE.
The company also passed an enabling resolution for conversion of loan and debentures into equity. It did not disclose the quantum of the debt that would be converted.
The scrip opened at Rs2.73 and has touched a high and low of Rs2.73 and Rs2.56 respectively.
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