Indian wind turbine manufacturer Suzlon has announced that in view of the current capital market environment, the company has decided to suspend the rights issue of equity shares to a maximum extent of Rs 1800 crore.

The company said that the recent move will not impact original plans of the company.

In addition, Suzlon has also reviewed its intension to enter into domination pact with its major subsidiary REpower Syatems AG, Germany. Both partners, after watching current market scenario, have decided to suspend the process of negotiation for the time being. 

Apart from this, Suzlon Energy has clarified that now-a-days there have been several malicious rumors circulated in the market about the company, which it would like to clarify in the interest of the public at a large and in the interest of the stakeholders. 

The company confirmed that the promoters continue to maintain their shareholding of 98,62,68,000 shares which constitutes 65.83% of the share capital of the company. 

The above position has remained unchanged since January 10, 2008, the company stated in the release. 

Suzlon Energy believes that the recent slide in the share price of the company might be on account of select group of operators acting in concert against the interest of the company. So, the company requested general public and the shareholders not to be misled by such erroneous and malicious rumors.

In today session, the stock closed the day at Rs 47 on BSE. It touched an intraday high and low of Rs 55 and Rs 42 respectively. 

The stock of Suzlon Energy has plunged over 76% in past one month. The scrip had made a 52-week-high of Rs 460 on 9th January 2008.