Suzlon Energy to issue 11386000 shares

Suzlon Energy Ltd has announced that the Securities Issue Committee of the Board of Directors of the Company on December 18, 2007 has approved to offer placement of 11,386,000 equity shares of Suzlon Energy Ltd (the "Company") under Chapter XIII-A of the Securities and Exchange Board of India (Disclosure and Investor Protection) Guidelines. 2000 (the "SEBI Guidelines") (the "Issue") of Rs 10/- each at an issue Price of Rs 1917/- per equity share.

The Issue closed on December 18, 2007 and the settlement is expected to take place by December 20, 2007. These equity shares will be listed on National Stock Exchange of India Ltd and Bombay Stock Exchange Ltd.

The stock was trading at Rs.1900, up by Rs.38.20 or 2.05%. The stock hit an intraday high of Rs.1904.95 and low of Rs.1870.

The total traded quantity was 45606 compared to 2 week average of 110357.

Source : Equity Bulls

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