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Suzlon Energy to raise Rs2,182 cr via QIP

Suzlon Energy to raise Rs2,182 cr via QIP
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First Published: Wed, Dec 19 2007. 03 21 PM IST
Updated: Wed, Dec 19 2007. 03 21 PM IST
PTI
Mumbai: The world’s fifth largest wind turbine maker Suzlon Energy said on 19 December it will raise Rs2,182 crore through qualified institutional placement of shares.
A committee of the board of directors has approved to offer placement of 11,386,000 shares under Chapter XIII-A of the Sebi Guidelines, the company said in a filing to the Bombay Stock Exchange. Chapter XIII-A of the Sebi guidelines govern qualified institutional placements.
The shares of Rs 10 each would be issued at a price of Rs 1,917 each, it added.
The issue closed on 18 December and the settlement is expected to take place by 20 December. These equity shares will be listed both on National Stock Exchange and Bombay Stock Exchange, Suzlon Energy said.
The company last month raised €400 million by listing its Belgium-based wholly-owned subsidiary Hansen Transmissions International NV on the London Stock Exchange.
Suzlon Energy, the country’s largest wind power equipment maker, had acquired Hansen in 2006 for €465 million from Allianz Capital Partners and Apax Partners Worldwide.
Shares of the company were trading at Rs 1,899.80, up 2.04% at 1316 hrs on BSE.
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First Published: Wed, Dec 19 2007. 03 21 PM IST