SUZLON ENERGY LTD. - Outcome of Securities Issue Committee Meeting
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| 22 Jul 2014 | |
| Suzlon Energy Ltd has informed BSE that the Securities Issue Committee of the Board of Directors of the Company has, at its meeting held on July 22, 2014, approved the allotment of 7,16,32,902 (Seven Crores Sixteen Lacs Thirty Two Thousand Nine Hundred Two) Equity Shares of Rs. 2/- (Rupees Two Only) each at an issue price of Rs. 18.51/- (Rupees Eighteen and Paise Fifty One Only) per share to the CDR Lenders as per CDR Package on preferential basis under Chapter VII - "Preferential Issue" of Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 ("ICDR Regulations") in terms of the approval granted by the shareholders of the Company by way of postal ballot, the results of which have been declared on April 12, 2013 and further in accordance with the scheme of corporate debt restructuring ("CDR Package") by and between the Company and the lenders of the Company ("CDR Lenders") that is governed by the Corporate Debt Restructuring Scheme issued by the RBI dated August 27, 2008 and the Corporate Debt Restructuring Guidelines formulated thereunder, which has been approved by the Corporate Debt Restructuring Empowered Group on December 31, 2012, and communicated to the Company by the Corporate Debt Restructuring Cell vide its letter of approval dated January 23, 2013.<br/><br/>The said 7,16,32,902 (Seven Crores Sixteen Lacs Thirty Two Thousand Nine Hundred Two) Equity Shares of Rs. 2/- (Rupees Two Only) each shall be locked in for a period of one year from the date of allotment in terms of the ICDR Regulations. | |
| View all announcements for SUZLON ENERGY LTD. | Source: BSE India |
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