Suzlon Energy to allot 3.58 lakh shares to bond holders

Wind turbine maker Suzlon Energy Ltd today said it will allot over 3.58 lakh shares to bondholders upon conversion of some bonds due in July 2019.
A little more than 3.58 lakh shares equity shares have been allotted upon conversion of 92 step-up convertible bonds worth USD 1,000 each at a conversion price of Rs 15.46 per share, the company said in a regulatory filing.
The allotment was approved by the securities issue committee of the company's board of directors during its meeting today.
Notices for conversion were received by Suzlon from "certain bondholders of the USD 546,916,000 step-up Convertible Bonds due July 2019".

Post allotment, the company's paid-up capital stands at over Rs 997.9O crore.
Suzlon has been grappling with tough business conditions amid stiff competition and global economic uncertainties.