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 Rs.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 Rs.5 per Rights Equity Share (including a premium of Rs.3 per Rights Equity Share) aggregating up to Rs.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.
Suzlon Right Issue Time Table
| Particular | Date |
| Record Date | 04 Oct 2022 |
| Last Date for Credit of Right Entitlements | 10 Oct 2022 |
| Issue Opening Date | 11 Oct 2022 |
| Last Date for on market Renunciation of Rights Entitlements | 14 Oct 2022 |
| Issue Closing Date | 20 Oct 2022 |
| Assumed Date of Allotment | 31 Oct 2022 |
| Assumed Listing Date | 03 Nov 2022 |
Suzlon Right Issue Details
| Issue size | 1200 Crore |
| Issue Shares | 2,40,00,00,000 |
| Face Value | ₹ 2 Per Share |
| Issue Price | ₹ 5 Per Share ₹ 2 Face Value + ₹ 3 Premium) |
| Payment Terms | Amount Payable ₹ 2.5 on application and Additional ₹ 2.5 calls as may be decided by the Board/Committee of the Board from time to time |
| Entitlement Ration | Every 21 Equity shares Holder on record date gets 5 Equity share |
| Object of Issue | 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. |
How to Apply in SUZLON Right Issue
There are two ways to apply in SUZLON Energy Right Issue
1. ABSB – through Net Banking or Application Form
Follow the process Step by Step to Apply through Net Banking
- Log in to the net banking account of your bank.
- Go to the ‘IPO & Rights Issue’ section.
- Check if the Suzlon Energy Rights Issue 2022 available on the list.
- Click the Apply button next to the Suzlon Energy Rights Issue 2022.
- Fill required details and check your information.
- Submit the application.
2. R-WAP Facility – Registrar’s Website
Follow the process Step by Step to apply Through Registrar’s Website
- Go to the registrar’s website ( https://rights.kfintech.com/suzlon/ )
- Go to the ‘Rights Issue’ section
- Select Suzlon Energy Rights Issue 2022 from the dropdown.
- Enter D-mat Account Number.
- Fill the online application form properly.
- Validate and submit the application.
The above give details is for knowledge purpose only, for full details of SUZLON Energy Right Issue please visit https://rights.kfintech.com/suzlon/.
