Mumbai, October 20, 2022: Suzlon Energy Limited, one of India's top manufacturers in the
wind component manufacturing segment as per capacity and one of the top renewable O&M
service providers in India, as per capacity serviced (Source: CRISIL Report), announced today,
the successful closure of the issue of 240 crore partly paid-up Equity Shares on rights basis to
the eligible equity shareholders (the "Rights Issue") which was launched on October 11, 2022.
The issue resulted into subscription of 435.46 crore shares* resulting into oversubscription by
1.8x times. The issue period was from October 11, 2022, to October 20, 2022
The issue size was 240 crore 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.
The funds raised via rights issue are in multiple calls - first call at time of application is Rs. 600
crores, which will be used in the manner described in the letter of offer, including for
repayment or pre-payment of a portion of certain outstanding borrowings availed by the
Company and its subsidiaries.
The allotment and listing formalities of the new shares on the BSE & NSE is expected to be
completed by 1st week of November 2022.
Intermediaries for this rights issue: Inga Ventures Private Limited - the lead manager to the
Issue, S&R Associates - the Legal Advisor to the Company as to Indian law, IndusLaw - the Legal
Advisor to the Lead Manager as to Indian law and IndusInd Bank Limited - the Banker to the
*Source: BSE website
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 and the addendum to the
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, and October 10, 2022, respectively.
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.
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
Suzlon corporate website: www.suzlon.com
Tel: +91 (20) 67025000