When the market opens on Thursday morning i.e. today, at 9 am, the share price of Suzlon Energy will remain in focus as its board of directors has agreed to convert the 16.2 lakh partly paid-up shares into fully paid-up equity shares. This major development was announced on Wednesday, October 11, 2023, when the company issued an exchange filing. It illustrated that the board of directors of Suzlon Energy gathered for a meeting on October 11, 2023, to allow the conversion of 16.2 lakhs partly paid-up equity shares that have a face of the value of Rs 2 each with Re 1 partly paid-up, into fully-paid equity shares with the same face value of Rs 2 each with Rs 2 paid-up fully on First and Final Call. Continue reading this article and read more details. Swipe down the page and read more details.
In an exchange filing, Suzlon Energy announced on Wednesday, October 11, 2023, after a board of directors met to approve the conversion of partly paid-up shares into fully paid-up shares, “The Board of Directors of the Company at its meeting held on 11th October 2023, approved the conversion of 16,20,352 partly paid-up equity shares having a face value of Rs2 each with Re 1 paid-up in to fully paid-up equity shares having a face value of Rs2 each with Rs2 paid-up on receipt of First and Final Call aggregating to Rs40,50,880,”
To obtain the listing and trading approvals, Suzlon Energy which is a renewable energy solution provider stated the company is processing the necessary formalities for corporate actions. Talking about the current paid-up capital of the company, Suzlon Energy’s paid-up capital is Rs 2,718.85 crore which is divided into fully paid-up equity shares of Rs 1357.58 crore with a face value of Rs 2 each and Rs 3.68 crore partly paid-up shares with the face value of Rs 2 each with Re 1 each paid up.
It is expected that the Suzlon Energy equity shares will show a volatile nature this week after October 9, 2023, when the index was put on the Direct stage IV ASM framework with effect. ASM formwork means Additional Surveillance Measures. For the second time in a row on October 9 and October 10, the Suzlon Energy stocks hit lower circuit limits. But on October 11, 2023, Wednesday, Suzlon Energy shares hit the upper circuit limit with a 5 percent premium of Rs 27.72 apiece on the BSE. Stay tuned to this website for more details and updates.