Suzlon CMD Tulsi Tanti was in Ahmedabad to make the announcement about the rights issue and for the media briefing. But before that he died of a heart attack.
Suzlon Energy CMD Tulsi Tanti
Chief Managing Director (CMD) of Suzlon Group Tulsi Tanti died on Friday night. He died of a heart attack. Tanti was the founder, chairman and managing director of Suzlon. He held the responsibility of Suzlon Group and Suzlon Energy Limited. Also he was one of the big promoters of the company. Tanti was the head of the Renewable Energy Council’s Confederation of Indian Industry (CII). This council in the country green energy Provides instructions related to the policy. The company had announced that it would open a rights issue of 1200 crores, but Tulsi Tanti died before that. Now the question is what will happen to the investors after the preparation of the rights issue.
Suzlon Group and Suzlon Energy have suffered a major setback after the death of Tulsi Tanti. Now questions have started looming over the rights issue as well. The rights issue was a gift to the investors, but at the moment its situation does not seem to be clear. Investors who already have shares of the company were going to benefit from the rights issue. The rights issue can be understood in such a way that if an investor has 100 shares at the rate of Rs 8, then in the rights issue, these shares will be available at the rate of Rs 5. In this way, there will be a profit of Rs 3 on each share. But what will happen next in the rights issue, it will be a matter to be seen now.
Tulsi Tanti announcement
Tulsi Tanti was in Ahmedabad to make an announcement about the rights issue and for a media briefing. But before that he died of a heart attack. Tanti had earlier told planning that the company would use the rights issue money to reduce its debt and repay the interest money. Rights issue money was also to be used for working capital demands.
Tulsi Tanti believed from the beginning that India should reduce its dependence on energy imports and increase the use of the country’s own resources. While working in this direction, he did a great job in the field of wind energy. This is the reason why he was also called the Wind Man of India. Hours before his death, Tulsi told reporters that his company had started its operations only two decades ago. Then multinational companies used to rule the wind energy market in the world. Tanti had already grasped this area of business and started his work in the field of renewable energy.
Suzlon Energy business
Tulsi Tanti has made Suzlon Energy the country’s leading wind power company with a total wind energy capacity of 19.4 gigawatts (GW). This company today has 33% market share in India and operates in 17 other countries. The name of this company is the biggest in the field of wind energy. Tulsi has been a member of the Board of Management of Tanti Teri University, Delhi and the President of the Indian Wind Turbine Manufacturers Association (IWTMA).