Suzlon Energy calls FCCB investors for meeting

Suzlon Energy Ltd has announced that the Company has issued notices convening meetings of the holders of its Bonds (US$ 300,000,000 Zero Coupon Convertible Bonds due June 2012 and US$ 200,000,000 Zero Coupon Convertible Bonds due October 2012). In the Notices of Meetings, the Company has proposed certain measures which would enable it to reduce its liabilities under each of the Bonds. The Company has proposed, by means of an invitation, to the bondholders, to (a) offer their Bonds in exchange for new convertible bonds to be issued by the Company; (b) offer their Bonds for payment of a cash consideration; or (c) receive certain fees; or (d) a combination of one or more of (a), (b) or (c), as an incentive to consent to certain amendments to the terms and conditions of each of the Bonds.

The stock closed the day at Rs.42.40, up by Rs.1.05 or 2.54%. The stock hit an intraday high of Rs.43.25 and low of Rs.40.30.

The total traded quantity was 9503612 compared to 2 week average of 10042862.

Source : Equity Bulls

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