Suzlon allots 3.53 crore equity shares to bondholders

Suzlon Energy has approved the allotment of 3.53 crore equity shares worth Rs 54.58 crore to its bond holders.
"Securities Issue Committee of the Board of Directors of the Company at its meeting held on September 16, 2015, approved allotment of 3,53,09,144 equity shares of Rs 2 each on conversion of 9,064 USD 546,916,000 Step-up Convertible Bonds due July 2019 of USD 1,000 each at a conversion price of Rs 15.46 per equity share," Suzlon Energy Ltd said in BSE filing.
According to statement the conversion has been done with a fixed rate of exchange on conversion of Rs 60.225 to USD one in terms of the Information Memorandum dated June 17, 2014, pursuant to the conversion notices received from certain bondholders of the USD 546,916,000 Step-up Convertible Bonds due July 2019.

Post aforesaid allotment, the paid-up capital of the Company is Rs 981,66,86,242 divided into 490,83,43,121 equity shares of Rs 2 each, the company added.
Suzlon Energy is a wind turbine generator maker and a leading players in the renewable energy space.
Shares of Suzlon Energy closed down 0.47% at Rs 21.20 today.