21 Oct 2022 , 09:19 AM
The issue resulted into subscription of 435.46 crore shares resulting into oversubscription by 1.8x times. The issue period was from October 11, 2022, to October 20, 2022.
The issue size was 240 crore partly paidâ€up Equity Shares for cash, at a price of Rs5 per Rights Equity Share (including a premium of Rs3 per Rights Equity Share) aggregating up to Rs1,200 crore on a rights basis to its eligible equity shareholders in the ratio of 5 rights equity shares for every 21 fully paidâ€up equity shares held by the eligible equity shareholders.
The funds raised via rights issue are in multiple calls — first call at time of application is Rs600 crore, which will be used in the manner described in the letter of offer, including for repayment or preâ€payment of a portion of certain outstanding borrowings availed by the Company and its subsidiaries.
The allotment and listing formalities of the new shares on the BSE & NSE is expected to be completed by 1st week of November 2022.
Intermediaries for this rights issue: Inga Ventures Private Limited †the lead manager to the Issue, S&R Associates †the Legal Advisor to the Company as to Indian law, IndusLaw †the Legal Advisor to the Lead Manager as to Indian law and IndusInd Bank Limited †the Banker to the Issue.
At around 9:19 AM, Suzlon Energy Ltd is currently trading at Rs9 per share up by Rs0.1 or 1.12% from its previous closing of Rs8.90 per share on the BSE.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Securities Support WhatsApp Number
+91 9892691696
www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.
Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.