Suzlon Energy to issue 4.72 crore shares to bond holders

Suzlon Energy will issue over 4.72 crore shares worth Rs 73 crore to certain bondholders upon conversion of their bonds that are due in July 2019.
These shares are being issued on conversion of 12,136 USD 546,916,000 step-up convertible Bonds of USD 1,000 each at a conversion price of Rs 15.46 per share, the company said in a regulatory filing.
Notices for conversion were received by Suzlon from "certain bond holders of the USD 546,916,000 step-up convertible bonds due July 2019", it added.
The allotment was approved by the securities issue committee of the company's board at its meeting held today.

"...The paid-up capital of the company is Rs 974,60,67,954," the company said.
Suzlon has been grappling with tough business conditions amid stiff competition and global economic uncertainties.
Shares of the company today closed at Rs 24.45 a piece on BSE, down 2.20 per cent.