Suzlon Energy shareholders approve debt restructuring

At the Extra Ordinary General Meeting of Suzlon Energy Limited held on Friday, 25th March 2022 the shareholders have approved the various proposals for conversion of existing loan, OCDs to equity shares and preferential issue of warrants to new lender. The proposals that were approved by the shareholders are:

- Approval for increase in the Authorised Share Capital and alteration of the Capital Clause of the Memorandum of Association of the Company

- Conversion of Optionally Convertible Debentures issued to the Existing Lenders in to equity shares of the Company

- Issue of convertible warrants of the Company on preferential basis to the New Lender

- Conversion of loan extended by New Lenders into equity

- Re-appointment of Mr. Tulsi R.Tanti as the Managing Director of the Company and

- Approval for divestment / dilution / disposal of the Company's investment(s) / asset(s) / undertaking(s)

Shares of Suzlon Energy Limited was last trading in BSE at Rs. 9.39 as compared to the previous close of Rs. 9.28. The total number of shares traded during the day was 6869959 in over 3238 trades.

The stock hit an intraday high of Rs. 9.66 and intraday low of 9.35. The net turnover during the day was Rs. 64966166.00.

Source : Equity Bulls

Keywords

SuzlonEnergy INE040H01021 DebtRestructuring FundRaising Appointment ShareholdersApproval EGM