Wind turbine supplier Suzlon’s initial public offering (IPO) in 2005 was nothing short of stellar. Almost overnight, its founder and chairman, Tulsi Tanti, became one of the richest people in India. At the time, the company was the fifth largest wind energy firm in the world. Two years later, it would establish itself as a major player in the sector, acquiring its German rival REpower for $2 billion (~Rs 13,000 crore).
The wayward wind
The everlasting misery of Suzlon
The story of a company that has been a turnaround in the making for the last decade. Except, it is far from redemption
Suzlon was once the fifth-largest wind energy firm in the world
Due to various reasons, the firm defaulted on its borrowings and fell into a debt trap
As Suzlon was about to turn the tables, wind energy tariffs fell to an all-time low
Will Suzlon eventually be a turnaround story?