In an exchange filing, the electric utility company said, “The securities issue committee of the board of directors of the company approved conversion of 1,59,13,280 partly paid-up equity shares having a face value of Rs 2 each with Re 1 paid-up into fully paid-up equity shares having a face value of Rs 2 each with Rs 2 paid-up on receipt of first and final call aggregating to Rs 3,97,83,200.”

Suzlon Energy stated that it is in process of completing necessary formalities for corporate actions / obtaining listing and trading approvals in respect of the converted rights equity shares.

“As on date, the paid-up capital of the company is Rs 2489,80,37,460 divided into 1242,49,50,377 fully paid-up equity shares having a face value of Rs 2 each and 4,81,36,706 partly paid-up equity shares having a face value of Rs 2 each with Re 1each paid-up,” the firm stated in the press release.

The Suzlon Group is one of the leading renewable energy solutions provider in the world with presence in 17 countries.

The company reported consolidated net profit of Rs 279.89 crore in Q4 FY23 as against net loss of Rs 204.29 crore posted in Q4 FY22. Revenue from operations declined 30.8% year on year (YoY) to Rs 1,689.91 crore in the quarter ended 31 March 2023.