In his acquisition spree, the Suzlon founder failed to heed the warning signs, and ended up forfeiting control of his company.
There was a brief period when nothing could go wrong for Tulsi Tanti, the founder and chairman of Pune-based wind energy company Suzlon, who passed away last week.
When Suzlon shot into the limelight in 2005 with its initial public offering, investors couldn’t get enough of the company. Its Rs 10 paid-up shares were priced at a premium of Rs 500 and the retail offer was oversubscribed six times; the non-institutional portion was oversubscribed over 40 times. The shares listed at Rs 640 and were soon trading at over Rs 800 apiece. Suzlon’s market capitalization crossed Rs 30,000 crore and …
Surendar helps lead the newsroom at The Morning Context as executive editor. Over the years, Surendar has worked in industries from pharmaceuticals to diamonds, as well as a stint as an equity analyst. In his long career as a business journalist, he has led teams at The Times of India, India Today and Fortune India. He was part of the founding team at Forbes India and interned at and published in The Times, London.
Executive Editor
surendar@mailtmc.com
Mumbai