Multibagger Power Sector Penny Stock Approves Raising Fund Up To Rs 2000 Crore

Small cap penny stock operating in power sector, Suzlon Energy Ltd on Friday approved fund raise plan of up to Rs 2000 crore. Soon after the announcement, Suzlon Energy shares gained 1.36% intraday as of July 7, 2023 to Rs 17.89 per share on BSE. Suzlon Energy stock already delivered multibagger return of 119% in last 3-months only. Check details below:

Board of Suzlon Energy Approves Fund Raise Plan: According to the BSE filing of Suzlon Energy dated July 7, "This is to inform that the Board of Directors of the Company (the "Board"), at its meeting held on 7th July 2023 consideredSmall cap penny stock operating in power sector, Suzlon Energy Ltd on Friday approved fund raise plan of up to Rs 2000 crore. Soon after the announcement, Suzlon Energy shares gained 1.36% intraday as of July 7, 2023 to Rs 17.89 per share on BSE. Suzlon Energy stock already delivered multibagger return of 119% in last 3-months only. and approved Issuance of such number of fully paid-up equity shares and / or convertible bonds (CBs), and / or non-convertible debt instruments and / or any other instruments and / or combination of instruments with or without detachable warrants with a right exercisable by the warrant holders to convert or subscribe to the equity shares or otherwise, in registered or bearer form (the "Securities"), or any combination of the Securities, in one or more tranches, denominated in Indian Rupee, through one or more private offerings or qualified institutions placement and / or any combination thereof, for an aggregate consideration not exceeding Rs.2,000 Crores (Rupees Two Thousand Crores Only), in accordance with the applicable laws including the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 and the Companies Act, 2013, each as amended, subject to receipt of all necessary approvals, if and to the extent required."

Suzlon Energy Stock Performance & Return: Last trading price of Suzlon Energy share is Rs 17.89 per share on BSE. Its 52-week high price is quoted at Rs 18.54 per share and 52-week low price is Rs 5.43 per share, respectively. The company has a market capitalisation of Rs 22,194.08 crore.

In last 6-months, Suzlon Energy shares delivered return of 75%, gave 193% return in last 1-year, 131% return in last 2-years, and 265% return in last 3-years.
Suzlon Energy Latest Financial Results: The company for the quarter ended March 31, 2023 declared its consolidated total income at Rs 1699.96 crore, up 16.11% from previous quarter total income of Rs 1464.15 crore. It reported its latest quarterly net profit after tax at Rs 319.99 crore

Suzlon Energy About: The Suzlon Group is one of the leading renewable energy solutions providers in the world with 20 GW* of wind energy capacity installed across 17 countries. Headquartered at Suzlon One Earth in Pune, India; the Group comprises of Suzlon Energy Limited and its subsidiaries.

Disclaimer: The stock just highlights the fundraise plan and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on the stock mentioned. Neither, the author nor Greynium Information Technologies should be held liable for ay losses. Please consult a professional advisor.