, Suzlon chairman Tulsi Tanti said that it will take a minimum of 25% of the company to the market within the next six months.
The public offering is seen as a keystone to the company's struggle to bring its unwieldy debts under control. Tanti has said that Suzlon needs to raise around $1.2 billion in debt and equity in markets outside India, where its rupee debt is proving expensive to finance.
A spokesperson for Suzlon said that the company is considering listing part of the the German subsidiary, but was unable to confirm Tanti's comments.
Suzlon bought Senvion (then Repower) in 2007 for $1.7 billion. The subsidiary has proved profitable for Suzlon, but has not been able to make up for the losses made by its parent.
This has left the Indian firm struggling to find other ways to reduce its total debt of INR 158 billion ($2.6 billion) as of September 2013, which was up from INR 132 billion a year before.
In August, Suzlon also from Bloomberg, which again quoted Tanti, in which he is reported to have said that the company was in negotiations with a number of Japanese companies to establish a joint venture to develop offshore turbines in Japan. Tanti apparently said Suzlon was attracted to the Japanese market due to the low cost of borrowing in the country — a pull for a company with such cumbersome debts.
While Suzlon posted improved results for the first quarter of the year, with increased revenue, it is still making a significant loss, and actually saw its order book shrink over the period.
During the quarter, Suzlon staved off immediate crisis when it agreed the terms of a restructuring of its bond debt, which will see the Indian manufacturer issue $547 million in new bonds.
However, in order to win over bondholders, the company had to issue bonds with a value well over that of the defaulted securities, which were worth $285.8 million.
A Senvion spokesperson was unavailable for comment.
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