Suzlon Energy raises US$ 201.91 million throguh GDR and FCCB issue

Suzlon Energy Ltd has announced with reference to the earlier announcement dated July 20, that the issue of GDRs has been priced on July 21, 2009 for a total amount US$ 108.04 million comprising of 14,600,000 GDRs. The price per GDR is fixed at US$ 7.40. Each GDR would represent four equity shares of the Company.

Further, fresh issue of US$ 90.00 million Zero Coupon Convertible Bonds has been priced on July 21, 2009 for a total amount of US$ 93.87 million (issue price of 104.3%) and the initial conversion price has been set at Rs 90.38 per share.

The Company has thus raised a total amount of US$ 201.91 million through both the issuances.

The stock was trading at Rs.91.90, down by Rs.2.30 or 2.44%. The stock hit an intraday high of Rs.95 and low of Rs.90.10.

The total traded quantity was 10576953 compared to 2 week average of 17075753.

Source : Equity Bulls

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