Suzlon Energy - Rights Issue

Suzlon Energy Ltd has informed the market that the Board of Directors of the Company at its meeting held on September 27, 2008 has :

1. Approved a Rights Issue of equity shares of the Company to a maximum extent of Rs 1800 Crores. The terms and conditions of such rights issue including the rights entitlement ratio, the issue price, record date, etc. would be announced by the Board of Directors in due course.

2. Approved execution of Subscription Agreement, Shareholders' Agreement and such other deeds and documents to facilitate IDFC Private Equity to invest in SE Forge Ltd, a wholly owned subsidiary of the Company to an extent of Rs 400 Crores in form of equity shares aggregating to 17.1% of the share capital of the said SE Forge Ltd, pursuant to which the Company's shareholding in the said SE Forge Ltd would stand reduced to 82.9%