Sterling and Wilson Renewable Energy has raised Rs 1,500 crore through an issue of shares to qualified institutional investors, the company said in a statement.
The Securities Issuance Committee of Board of Directors at its meeting held on December 14 approved the issue and allotment of 4,32,27,665 equity shares to eligible qualified institutional buyers at the issue price of Rs 347 per equity share.
Sterling and Wilson Renewable Energy Ltd said that the Rs 1,500 crore Qualified Institutions placement (QIP) issue witnessed a strong response from both domestic mutual funds and marquee global FIIs.
