Suzlon issues 1.55 cr shares for bonds worth $546 mn

Suzlon Energy today said that it has issued 1.55 crore equity shares on conversion of 4,000 bonds worth USD 546.91 million.
"The Securities Issue Committee of the Board of Directors today approved allotment of 1,55,82,147 equity shares of Rs 2 each, on conversion of 4,000 USD 546,916,000 Step-up Convertible Bonds due July 2019 of USD 1,000 each", Suzlon Energy Ltd has informed BSE.
According to the statement, bonds are converted into equity shares at a price of Rs 15.46 per equity share with a fixed rate of exchange on conversion of Rs 60.225 to USD one in terms of Information Memorandum dated June 17, 2014.

This is done 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 997,83,51,018 divided into 498,91,75,509 equity shares of Rs 2 each.