Suzlon Energy issue in Rs 425-510 band

Suzlon Energy will offer 2.67 crore fresh equity shares of Rs 10 each in a price band of Rs 425-510.

"The proceeds of the issue will go for setting up and expansion of manufacturing facilities within the country, capitalisation of subsidiaries and construction of a new corporate head office in Pune," Tulsi Tanti, chairman and managing director of the company, said.

The issue, which would remain open for bidding from September 23 to 29, would be listed on both BSE and NSE.

Suzlon has appointed JM Morgan Stanely and Enam Financial Consultants as the lead managers for the issue.

Promoters' holding, post-issue, would come down to 69.78% from 76.94% of the paid-up capital of Rs 287.53 crore.