Suzlon Energy Limited ₹1,200 Crore Rights Issue

Issue oversubscribed by 1.8x times on closure of issue period, October 20, 2022

· Issue of 240 crores partly paid-up equity shares of face value of ₹2 each of our Company (the “Rights Equity Shares”) for cash at a price of ₹5 per Rights Equity Share (including a premium of ₹3 per Rights Equity Share) aggregating up to ₹1,200 crore on a rights basis to the eligible equity shareholders of our Company closed successfully on October 20, 2022.

· The issue was oversubscribed by 1.8x times

Bangalore, October 21, 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 on October 20, 2022, 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 ₹5 per Rights Equity Share (including a premium of ₹3 per Rights Equity Share) aggregating up to ₹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 Issue.

*Source: BSE website