New Delhi: Wind turbine maker Suzlon Energy on Saturday said its board has approved the allotment of over 10.52 crore shares to its bondholders upon conversion of some bonds due in July 2019.
"More than 10.52 crore equity shares will be allotted upon conversion of 27,018 step-up convertible bonds worth about USD 547 million at a conversion price of Rs 15.46 per share," the company said in a filing to the BSE.
Notices for conversion were received by Suzlon from "certain bondholders" and the allotment was approved by the securities issue committee of the board during its meeting today.
Post allotment, the company's paid-up capital stands at over Rs 762.59 crore.
Shares of the company closed at Rs 27.65 on Friday, down 0.72 percent on the BSE.
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