Suzlon Energy to buy IDFC PE shares in SE Forge

Suzlon Energy Ltd. announced that the Board of Directors of the Company at its meeting held on October 11, 2010, has consider to purchase 4,12,54,125 equity shares of Rs. 10 each held by IDFC Private Equity Fund III (IDFC PE) in SE Forge Ltd. (SEFL), a subsidiary of the Company, where the sale consideration will be discharged by the Company by an issue of fully paid-up equity shares of the Company to IDFC PE in accordance with the applicable laws and regulations. Consequently, SE Forge Limited shall become a wholly owned subsidiary of the Company.



The Board has consider to issue and allot 3,19,92,582 fully paid-up equity shares of Rs. 2 each by way of a Preferential Allotment to IDFC PE for acquisition of the aforesaid 17.1% stake in SEFL at such price being not less than the price computed in accordance with the applicable laws and regulations for consideration other than cash and subject to the receipt of requisite approval from the shareholders of the Company. Post allotment of these shares, IDFC PE will hold appox.1.80% of the paid-up capital of the Company.