Suzlon Energy allots 188633322 Equity Shares under the Rights Issue

Suzlon Energy Ltd has announced that, pursuant to the Rights Issue of the Company in terms of the Letter of Offer dated May 31, 2010, which was open for subscription from June 18, 2010 up to July 02, 2010, the Rights Issue Committee of the Board of Directors of the Company at the meeting held on July 12, 2010, has approved the issue and allotment of 18,86,33,322 Equity Shares of the face value of Rs. 2/- each at a premium of Rs. 61/- per Equity Share i.e. at an Issue Price of Rs.63/- per Equity Share to the eligible applicants under the Rights Issue.

The stock was trading at Rs.60.90, up by Rs.1.95 or 3.31%. The stock hit an intraday high of Rs.61.35 and low of Rs.58.85.

The total traded quantity was 5799601 compared to 2 week average of 3203620.

Source : Equity Bulls

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