Suzlon Energy Ltd to raise Rs. 5000 crores

The Board of Directors of Suzlon Energy Ltd at its meeting held on July 31, 2015, has approved the appointment of Mr. Kirti J. Vagadia as Group CFO w.e.f. August 01, 2015 and acceptance of resignation of Mr. Amit Agarwal as the CFO of the Company.

The Board of Directors has approved the fund raising proposal and employee stock option plans, subject however to the approval of the shareholders at the ensuing 20th Annual General Meeting of the Company.

The Board approved the issue of Securities to the extent of Rs. 5,000 Crores. (This is an enabling resolution to facilitate the Company to raise funds at an appropriate time should that be required).

The Board approved the formulation of Employee Stock Option Plan 2015 (the "ESOP 2015") of the Company for the employees of the Company and its subsidiaries.

The Board also approved the variation in the terms of Special Employee Stock Option Plan 2014 (the "Special ESOP 2014") of the Company by extending the exercise period by 2 (Two) years.

Shares of SUZLON ENERGY LTD. was last trading in BSE at Rs.21.9 as compared to the previous close of Rs. 21.9. The total number of shares traded during the day was 8594409 in over 8137 trades.

The stock hit an intraday high of Rs. 22.9 and intraday low of 21.5. The net turnover during the day was Rs. 191488876.

Source : Equity Bulls

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