Suzlon Energy on Thursday stated its board has authorized allotment of two.36 crore fairness shares following conversion of greenback denominated bonds.
The board of administrators at its assembly held on Thursday authorized allotment of two,36,47,562 fairness shares of the corporate having face worth of Rs 2 every on conversion of two,542 greenback denominated convertible bonds due in 2032, it stated in a regulatory submitting.
The bonds have face worth of USD 320 every, which after capitalising curiosity at 2.75 per cent every year accrued on half yearly foundation, is aggregating to USD 824,624, at a conversion worth of Rs 2.61 per fairness share, it added.
The conversion of bonds into fairness shares has been carried out at a set price of change of Rs 74.8464 per greenback.
The conversion was carried out pursuant to the conversion notices acquired from bondholders forming a part of greenback denominated convertible bonds due 2032, it added.
Submit allotment, the paid-up capital of the corporate is Rs 1,768.85 crore, divided into 884,42,60,567 fairness shares of Rs 2 every.
(Solely the headline and film of this report might have been reworked by the Enterprise Normal employees; the remainder of the content material is auto-generated from a syndicated feed.)
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