Companies

Suzlon promoters convert CCDs worth Rs 203 cr

Our Bureau New Delhi | Updated on March 12, 2018 Published on October 28, 2013

Suzlon Energy has allotted over 18.47 crore shares of face value of Rs 2 each upon conversion of 203 compulsorily convertible debentures (CCDs) of face value of Rs 1 crore each, to its promoters.

The preferential allotment post conversion of 100 CCDs is in consideration of conversion of the promoters’ unsecured loan of Rs 100 crore. These shares of over 9.09 crore have a lock-in-period of three years.

The remaining 103 CCDs is for the promoter contribution of Rs 103 crore brought in according to the terms of the corporate debt restructuring package. These shares, totalling over 9.37 crore, have a lock-in-period of one year.

On Monday, Suzlon shares closed 4.93 per cent higher at Rs 11.29 on the BSE.

The Securities Issue Committee of Suzlon board approved of the allotment on Monday.

> shanker.s@thehindu.co.in

Published on October 28, 2013

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill.

In these difficult times, we, at BusinessLine, are trying our best to ensure the newspaper reaches your hands every day. You can also access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all our readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. You can help us by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section.

Our subscriptions start as low as Rs 199/- per month. A yearly package costs just Rs. 999 – a mere Rs 2.75 per day, less than a third the price of a cup of roadside chai..

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
null
This article is closed for comments.
Please Email the Editor