Reliance New Energy acquires stake in Sterling and Wilson Renewable Energy

Sterling and Wilson Renewable Energy

Reliance New Energy Solar Limited (RNESL), a wholly owned subsidiary of the Reliance Industries has acquired, by way of off-market purchase, 1,84,00,000 equity shares of face value of Re 1 each at a price of Rs 375 per equity share aggregating Rs 690,00,00,000 from Shapoorji Pallonji and Company Private Limited, one of the promoters of Sterling and Wilson Renewable Energy Limited (SWREL).

Consequent to such acquisition, RNESL holds 25.16% of the total paid-up equity share capital of SWREL.

Reliance Industries was quoting at Rs 2,440.70, up Rs 24.10, or 1 percent on the BSE.

News Source:- Moneycontrol

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