Suzlon Energy to raise Rs 1,200 cr via rights issue

Suzlon Energy NSE -8.79 % on Sunday said its board has approved raising ₹1,200 crore via a rights issue of 240 crore shares. The Securities Issue Committee of the Board, at its meeting held on Sunday, approved the rights issue, the company said in a regulatory filing.

The company will raise ₹1,200 crore through issuance of 240 crore shares with face value of ₹2 each at an issue price of ₹5 per share. The number of outstanding equity shares will increase from 1007,30,87,083 to 1247,30,87,083 after the issue (assuming full subscription).