Mumbai, September 28, 2022: 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.
*Assuming full subscription and receipt of all call monies with respect to Rights Equity Shares
|Tuesday, October 4, 2022
|LAST DATE FOR CREDIT OF RIGHTS ENTITLEMENTS
|Monday, October 10, 2022
|ISSUE OPENING DATE
|Tuesday, October 11, 2022
|LAST DATE FOR ON MARKET RENUNCIATION OF RIGHTS ENTITLEMENTS #
|Friday, October 14, 2022
|ISSUE CLOSING DATE*
|Thursday, October 20, 2022
Eligible Equity Shareholders are requested to ensure that renunciation through off-market transfer is completed in such a
manner that the Rights Entitlements are credited to the demat account of the Renouncees on or prior to the Issue Closing Date.
*Our Board or a duly authorised committee thereof will have the right to extend the Issue Period as it may determine from time
to time but not exceeding 30 days from the Issue Opening Date (inclusive of the Issue Opening Date). Further, no withdrawal of
Application shall be permitted by any Applicant after the Issue Closing Date.
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.
Suzlon Energy Limited is proposing, subject to market conditions and other considerations, to make
a rights issue of its Equity Shares, and has filed a letter of offer with BSE Limited, National Stock
Exchange of India Limited and the Securities and Exchange Board of India ("SEBI") on September 28,
2022. The letter of offer is available on the website of SEBI at www.sebi.gov.in and the websites of
the Lead Manager at www.ingaventures.com and the websites of the stock exchanges at
www.nseindia.com and www.bseindia.com, and the Company website at www.suzlon.com
respectively. Potential investors should note that investment in equity shares involves a high degree
of risk and are requested to refer to the letter of offer filed with the SEBI and the stock exchanges,
including the section titled "Risk Factors", for details of the same, when available.
This announcement has been prepared for publication in India and may not be released in the
United States. This announcement does not constitute an offer or sale of securities in any
jurisdiction, including the United States, and any securities described in this announcement may not
be offered or sold in the United States absent registration under the US Securities Act of 1933, as
amended, or an exemption from registration. Any public offering of securities to be made in the
United States will be made by means of a prospectus that may be obtained from the Company and
that will contain detailed information about the Company and management, as well as financial
statements. However, no public offering of securities is being made in the United States.
Suzlon corporate website: www.suzlon.com
Tel: +91 (20) 67025000