Reliance Group firm offers Rs 375/share to acquire 4.91 crore shares of Sterling and Wilson Solar
NEW DELHI: Reliance Group firm Reliance New Energy Solar has offered Rs 375 per share to acquire 4.91 crore shares of Sterling and Wilson Solar for over Rs 1,840 crore.
The 4.91 crore shares constitute 25.9 per cent equity stake or the entire public holding in Sterling and Wilson Solar Ltd, Sterling and Wilson Solar said in a regulatory filing.
Apart from Reliance New Energy Solar Ltd (RNESL), the other Reliance Group firms which would be persons acting in concert (PAC) are Reliance Industries Ltd (RIL) and Reliance Ventures Ltd, according to the draft letter of open offer.
