Suzlon Energy Ltd board approves terms of rights issue

The Securities Issue Committee of the Board of Suzlon Energy Ltd, at its meeting held on 25th September 2022 (which commenced at 9.00 a.m. and concluded at 9.30 a.m.), has approved the following terms and conditions of the Rights Issue:

Instrument: Partly paid-up equity shares having a face value of Rs.2/- each ("Equity Shares").

Total number of Equity Shares and Rights Issue size: 240,00,00,000 (Two Hundred Forty Crores) Equity Shares of Rs.2/- (Rupees Two Only) each at an issue price of Rs.5/- (Rupees Five Only) per Equity Share aggregating to Rs.1200,00,00,000/- (Rupees One Thousand Two Hundred Crores Only).

Issue Price: Rs.5/- (Rupees Five Only) per Equity Share (including a premium of Rs.3/- (Rupees Three Only) per Equity Share) payable as under:

On application Rs.2.50 (Rupees Two and Paise Fifty Only) per Equity Share
On subsequent call(s) Rs.2.50 (Rupees Two and Paise Fifty Only) per Equity Share.

Outstanding Equity Shares:

Prior to the Rights Issue - 1007,30,87,083 Equity Shares
Post Rights Issue* - 1247,30,87,083 Equity Shares assuming full subscription.

Rights entitlement ratio: 5:21 (Five Rights Equity Shares for every Twenty One fully paid-up Equity Shares held by the eligible equity shareholders of the Company, as on the record date as may be notified subsequently). If the shareholding of any of the eligible equity shareholder is 5 (Five) or more, such shareholders will be entitled to at least 1 (One) Equity Share.

Source : Equity Bulls

Keywords

SuzlonEnergy FundRaising RightsIssue Ratio IssuePrice