Suzlon Energy Ltd allots 270385303 Equity Shares

Pursuant to the conversion notice received from certain holders of the USD 546,916,000 Step-up Convertible Bonds due July 2019 (the "Bonds"), the Securities Issue Committee of the Board of Directors of Suzlon Energy Ltd at its meeting held on September 09, 2014 has approved the allotment of 27,03,85,303 (Twenty Seven Crores Three Lacs Eighty Five Thousand Three Hundred Three) Equity Shares of Rs. 2/- each on conversion of 69,409 (Sixty Nine Thousand Four Hundred Nine) Bonds worth USD 69,409,000, at a conversion price of Rs. 15.46 (Rupees Fifteen and Paise Forty Six Only) per Equity Share with a fixed rate of exchange on conversion of Rs. 60.225 to USD 1.00 in terms of the Information Memorandum dated June 17, 2014.

Shares of SUZLON ENERGY LTD. was last trading in BSE at Rs.21.65 as compared to the previous close of Rs. 21.95. The total number of shares traded during the day was 1817408 in over 5874 trades.

The stock hit an intraday high of Rs. 22.25 and intraday low of 21.2. The net turnover during the day was Rs. 39364924.

Source : Equity Bulls

Keywords