On Tuesday India’s state-run power utility NTPC set the price floor for its upcoming share sale at INR201 per share, bringing the implied size of the offering of 412.2 mn shares to INR82.87 bn ($1.79 bn), the largest sale of a state asset in the government’s current privatization program drive. The sale represents 5% of [...]

Suzlon Energy, India’s largest wind turbine maker, plans to divest its entire 26% stake in Hansen Transmissions International [HSN LN], its Belgian gearbox technology unit, as
doesn’t see major future benefits from retaining the interest. Two private equity firms, including a US energy fund, are reportedly interested in purchasing Suzlon’s stake, which is worth an estimated [...]

Suzlon Energy’s consolidated fiscal 3Q 2009 NI came to INR141 mn ($3.05 mn) on Revenues of INR55.9 bn, after a INR648.7 mn Net Loss in 3Q 2008, beating Bloomberg consensus estimate of a Net Loss of INR389 mn. Consolidated Revenues were down by 19.2% YoY. However, the bottom line was brought into the black by [...]