Mumbai, Jan 8 (IANS): Shares of Suzlon Energy on Wednesday slumped 10 per cent after the company reported on default of loans worth Rs 7,256.38 crore.
The company had on Tuesday informed the exchanges of defaulting on the loans which includes a principal of Rs 6,717.44 crore and interest of Rs 538.94 crore.
Its shares on the BSE settled at Rs 3.24 on Wednesday, lower by 36 paise or 10 per cent from the previous close.
The loans were given by a consortium of 18 banks led by the State Bank of India along with the Indian Renewable Energy Development Agency (IREDA).
The company further said that the loans included funds based on working capital, non fund based working capital, term loans and standby letter of credit.