How much have you paid for the 30 per cent stake that you recently picked up in RePower?
I can't share the details of the acquisition price, but it is somewhere close to the Euro 150 per share that we paid for the earlier stake of close to 34 per cent. We have funded this transaction through a $500-million FCCB.
Our total stake in RePower is now 63.5 per cent and we have voting rights for 89 per cent of the equity of the company. We will be buying out Martifer's 23 per cent stake by May 2009 at a pre-determined price.
Are you planning to sell any part of the stake in RePower as you had indicated some time back?
The price of RePower has appreciated since we bought the stake at Euro 150 per share. We had said we might consider selling a part of it because of the appreciation in the share price but we haven't decided on it yet.
At the Suzlon plant in Puducherry. | Photograph, courtesy: Suzlon Energy
Also read: India's top 10 corporate taxpayers
Advertisement
