 "Suzlon Energy declines 10% on listing of fresh shares")
Suzlon Energy has locked in lower circuit of 10% at Rs 20.40 on BSE, with no buyers on the counter, after fresh shares allotted on conversion of foreign currency convertible bonds (FCCBs) of the company starts trading today.
Suzlon Energy had allotted 270 million equity shares of Rs 2 each allotted at a price of Rs 15.46 per share pursuant to conversion of FCCBs of the company.
The new securities of Suzlon Energy are listed and permitted for trading on the exchange with effect from Friday, September 19, 2014, BSE said in notice dated 18 September 2014.
Post allotment total holding of the promoter declined to 34.46% from 37.81% earlier.
The stock opened at Rs 21.20 and touched a high of Rs 21.60 on BSE. Till 0945 hours, a combined 6.76 million shares changed hands on the counter on BSE and NSE.
Suzlon Energy had allotted 270 million equity shares of Rs 2 each allotted at a price of Rs 15.46 per share pursuant to conversion of FCCBs of the company.
The new securities of Suzlon Energy are listed and permitted for trading on the exchange with effect from Friday, September 19, 2014, BSE said in notice dated 18 September 2014.
Post allotment total holding of the promoter declined to 34.46% from 37.81% earlier.
The stock opened at Rs 21.20 and touched a high of Rs 21.60 on BSE. Till 0945 hours, a combined 6.76 million shares changed hands on the counter on BSE and NSE.