Suzlon Energy Ltd approves allotment of 15582147 shares

The Securities Issue Committee of the Board of Directors of Suzlon Energy Ltd at its meeting held on November 18, 2015, has approved allotment of 1,55,82,147 (One Crore Fifty Five Lacs Eighty Two Thousand One Hundred Forty Seven) equity shares of Rs.2/- (Rupees Two Only) each, on conversion of 4,000 (Four Thousand) USD 546,916,000 Step-up Convertible Bonds due July 2019 of USD 1,000 each 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. pursuant to the conversion notices received from certain bondholders of the USD 546,916,000 Step-up Convertible Bonds due July 2019.

Post aforesaid allotment, the paid-up capital of the Company is Rs. 997,83,51,018/- (Rupees Nine Hundred Ninety Seven Crores Eighty Three Lacs Fifty One Thousand Eighteen Only) divided into 498,91,75,509 (Four Hundred Ninety Eight Crores Ninety One Lacs Seventy Five Thousand Five Hundred Nine) equity shares of Rs.2/- (Rupees Two Only) each.

Shares of SUZLON ENERGY LTD. was last trading in BSE at Rs.22.15 as compared to the previous close of Rs. 21.75. The total number of shares traded during the day was 7812746 in over 6274 trades.

The stock hit an intraday high of Rs. 22.55 and intraday low of 21.75. The net turnover during the day was Rs. 173258988.

Source : Equity Bulls

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