SWSL gets shareholder nod to issue shares to Reliance New Energy Solar
Sterling and Wilson Solar Ltd (SWSL) on Tuesday said it has got shareholders’ approval to issue equity shares on a preferential basis to Reliance New Energy Solar Ltd (RNESL) in its extraordinary general meeting (EGM).
“The resolution at the EGM was passed with the requisite majority,” according to a BSE filing.
A special resolution “to create, offer, issue and allot equity shares on a private placement/ preferential basis to Reliance New Energy Solar Ltd” was listed on the EGM held on Tuesday.
Earlier, on October 10, the company had announced that RNESL had executed definitive agreements with Shapoorji Pallonji and Company Pvt Ltd (SPCPL), Khurshed Daruvala and Sterling to acquire 40 per cent stake post-money in SWSL through a series of transactions.
