RIL’s renewable energy arm acquires additional 10% stake in Sterling & Wilson
Reliance Industries Ltd’s renewable energy arm on Thursday acquired an additional 10.37 per cent stake in Sterling & Wilson Renewable Energy (SWREL).
RILs subsidiary Reliance New Energy (RNEL) bought the additional stake for a consideration of Rs 738 crore from its promoters, it informed the exchanges.
The oil-to-telecommunication behemoth announced that the acquisition was made on February 9, 2022, by way of off-market purchase with an aggregate of 1.96 crore equity shares of face value of Rs 1 each of SWREL at a price of Rs 375 per equity share from Shapoorji Pallonji and Company Private Limited (1.53 crore equity shares of SWREL) and Khurshed Daruvala (42.86 lakh equity shares of SWREL) who are also promoters of SWREL.
