The share price of Suzlon Energy plunged 10 percent on Wednesday after the company defaulted on loan repayments. At 1:18 pm, the stock price was trading 10 percent lower at Rs 3.15 per share on the NSE.

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The defaults included payment of interest and repayment of principal amount on loans from banks and financial institutions worth Rs 7,256.38 crore.

The lenders to the company include SBI-led consortium of 18 banks and Indian Renewable Energy Development Agency.

A BSE release from the company noted that the nature of the loans lent to the company included fund-based working capital, non-fund-based working capital, term-loans and standby letter of credit.

Suzlon Energy's total amount of outstanding borrowings from banks and financial institutions stands at Rs 12,785.17 crore.

The total financial indebtedness of the company, including short-term and long-term debt, stood at Rs 14,048.28 crore.

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