Suzlon-Eq Rs 740 Cr; Market Cap-Rs 10,000 Cr; Dec14 Loss-Rs 5000 Cr-Can The FCCB Holders Push It Down To Rs 15?

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 March 25, 2015, approved allotment of 16,88,01,397 (Sixteen Crores Eighty Eight Lacs One Thousand Three Hundred Ninety Seven) equity shares of Rs.2/- (Rupees Two Only) each on conversion of 43,332 (Forty Three Thousand Three Hundred Thirty Two) USD 546,916,000 Step-up Convertible Bonds due July 2019 worth USD 43,332,000 at a conversion price of Rs.15.46 (Rupees Fifteen and Paise Forty Six Only) per equity share with a fixed rate of exchange on conversion of Rs.60.225 to USD 1.00 in terms of the Information Memorandum dated June 17, 2014, pursuant to the conversion notices received from certain bondholders of the USD 546,916,000 Step-up Convertible Bonds due July 2019.

Post aforesaid allotment, the paid-up capital of the Company is Rs.741,54,30,390/- (Rupees Seven Hundred Forty One Crores Fifty Four Lacs Thirty Thousand Three Hundred Ninety Only) divided into 370,77,15,195 (Three Hundred Seventy Crores Seventy Seven Lacs Fifteen Thousand One Hundred Ninety Five) Equity Shares of Rs.2/- (Rupees Two Only) each.