Suzlon Energy informs about outcome of board meeting

18 Apr 2020 Evaluate

Suzlon Energy has informed that the Board of Directors of the Company, at its Meeting held on 18th April 2020 (which commenced at 11.30 am and concluded at 1.15 pm), has, approved the following: Issue of enclosed securities on preferential basis in terms of the Resolution Plan for restructuring of debt of the Company and its certain identified subsidiaries formulated under the Reserve Bank of India (Prudential Framework for Resolution of Stressed Assets) Directions, 2019 issued by Reserve Bank of India vide its circular dated 7th June 2019 to one or more lenders, whose details are as mentioned in Annexure 1; An enabling resolution in terms of Section 62(3) of the Companies Act, 2013 for issuance of equity shares on conversion of loan/ debentures into equity; Issuance of equity shares/ equity linked instruments to an extent of Rs 1,000 Crores for restructuring of the existing foreign currency convertible bonds; Issuance of equity shares of the Company on preferential basis in terms of Chapter V of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 (the 'ICDR Regulations') to certain persons/ entities (including Promoters) as mentioned in Annexure 2 to an extent of Rs 363.50 Crores at an issue price of Rs 2.45 per share, being the price not less than the minimum price determined with reference to the Relevant Date in accordance with Regulation 164(1) of the ICDR Regulations. More details are enclosed.

The above information is a part of company’s filings submitted to BSE.

Suzlon Energy Share Price

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