December 19, 2015
Open offer is a result of primary investment by DSA in February 2015 and Shareholders Agreement between Suzlon Promoters and DSA
- Mandatory offer pursuant to SEBI regulation and not a new exercise
Mumbai, India: Suzlon group, Indias leading wind turbine manufacturer, today clarified that the
open offer made by Dilip Shanghvi Family and Associates (DSA) and the existing promoters (Tanti
Family) of Suzlon Energy Limited (Company) to the shareholders of the Company is a mandatory
open offer and is in accordance with the SEBI (Substantial Acquisition of Shares and Takeovers)
Regulations, 2011 (Open Offer). This Open Offer is pursuant to the shareholders agreement signed
on 13th February 2015, amongst the Company, DSA and the Tanti Family in respect of preferential
allotment of 100 crore equity shares @ Rs. 18 per equity share to DSA (Agreement).
The Open Offer is being made pursuant to an approval received from the Securities and Exchange
Board of India (SEBI) on 23rd November 2015, on the draft letter of offer, which was filed with the
SEBI for its review and comments on 3rd March 2015.
We also wish to clarify that the Open Offer is as per regulatory requirements under applicable laws
and is not a fresh open offer or a new exercise.
Appended for reference is the announcement pertaining to the execution of the Agreement and the
receipt of shareholders approval for the preferential allotment of equity shares to DSA.
- Rs. 1,800 crs Equity Infusion to accelerate growth
- Suzlon receives shareholders and CDR EG (Empowered Group) approval for Senvion sale and issue of upto 100 Crores equity shares on preferential basis