Suzlon Energy surges on plan to issue 78.37 crore equity shares on preferential basis to CDR lenders

Suzlon Energy Ltd. | Electric Equipment | Capital Goods & Industrial Consumables | BSE: 532667 | NSE: SUZLON

11 Mar 2013 Evaluate

Suzlon Energy is currently trading at Rs 17.00, up by 0.15 points or 0.89% from its previous closing of Rs. 16.85 on the BSE.

The scrip opened at Rs 17.40 and has touched a high and low of Rs 17.40 and Rs 16.85 respectively. So far 2121286 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 2 has touched a 52 week high of Rs 30.75 on 14-Mar-2012 and a 52 week low of Rs 13.55 on 28-Feb-2013.

Last one week high and low of the scrip stood at Rs 19.40 and Rs 16.35 respectively. The current market cap of the company is Rs 3021.52 crore.

The promoters holding in the company stood at 50.65% while Institutions and Non-Institutions held 9.95% and 39.19% respectively.

Country's largest wind turbine supplier, Suzlon Energy will be issuing 78.37 crore equity shares at an average price of Rs 18.51 a share, on a preferential basis to its CDR (corporate debt restructuring) lenders. Out of total, 42 crore equity shares will be issued in April and remaining ones will be issued in 1 or more tranches till September 2014. Additionally, the company would issue a total of 12.52 crore equity shares to non-CDR lenders at the same price of Rs 18.51 per share.

The company in the end of January, this year received formal approval of its proposal for the restructuring of domestic debt by the Empowered Group of Corporate Debt Restructuring (CDR) Cell. The company's domestic lenders, a consortium of 19 banks has approved CDR package of Rs 9,500 crore / $1.8 billion.

The package includes a two year moratorium on principal and term-debt interest payments; a three per cent reduction in interest rates; six month moratorium on working capital interest; as part of the package Rs 1,500 crore / $270 million (two year's interest payment during moratorium) will be converted into equity / equity linked instrument over the next two years to bring stronger financial stability; and a 10 year door-to-door back-ended repayment plan.

Suzlon Energy Share Price

54.29 0.65 (1.21%)

10-Jul-2026 11:02 View Price Chart

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