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Web Exclusive | October 2013

Suzlon lenders get Rs 232 cr worth securities

As part of its corporate debt restructuring (CDR) plan, Suzlon Energy has allotted securities worth over Rs 232 crore to its lenders and promoter group entity. The wind turbine maker has issued shares worth over Rs 129 crore to its lenders apart from allotment of compulsorily convertible debentures valued at Rs 103 crore. As per the CDR package, Suzlon Energy would issue more than 7.01 crore shares at a price of Rs 18.51 per piece to lenders, the company said in a regulatory filing on October 28. These securities, having a face value of Rs 2 each, would have a lock-in period of one year from the date of allotment.
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