Suzlon Energy Limited, one of India’s top manufacturers in the wind component manufacturing segment as per capacity and are one of the top renewable O&M service providers in India, as per capacity serviced (Source: CRISIL Report), announces the opening of its ₹1,200 crore Rights Issue, on October 11, 2022.
The Company will issue up to 2,400,000,000 partly paid-up Equity Shares for cash, at a price of ₹5 per Rights Equity Share (including a premium of ₹3 per Rights Equity Share) aggregating up to ₹1,200 crore* on a rights basis to its eligible equity shareholders in the ratio of 5 rights equity shares for every 21 fully paid-up equity shares held by the eligible equity shareholders on the record date, that is on Tuesday, October 4, 2022. The last date of on-market renunciation of rights entitlements is October 14, 2022.
The Promoters and Promoter Group have confirmed their participation and they will be fully subscribing to the extent of their rights entitlement.
The funds raised through the Issue will be used for repayment or pre-payment of a portion of certain outstanding borrowings availed by the Company and its subsidiaries and for general corporate purposes, subject to receipt of consent from our lenders.
Inga Ventures Private Limited is the lead manager to the Issue.
About Suzlon Energy Limited:
Suzlon Energy Limited (“SEL”) is one of India’s top manufacturers in the wind component manufacturing segment as per capacity and are one of the top renewable O&M service providers in India, as per capacity serviced (Source: CRISIL Report). SEL focuses on the integrated design, engineering, development and manufacture of technologically advanced wind turbine generators. With a footprint across 17 countries spread over six continents, SEL has the largest wind installed base as a wind energy OEM with approximately 13.45 GW of installed capacity in India as at June 30, 2022, contributing towards approximately 33% of India’s wind installed base as at that date (Source: CRISIL Report), and an installed capacity of approximately 5.96 GW outside India, aggregating to a global installed capacity of approximately 19.41 GW globally, as at June 30, 2022.
