Shapoorji Pallonji to offload 1.25% stake in Sterling and Wilson Renewable Energy

Construction firm Shapoorji Pallonji and Company Private Limited has proposed to offload the 1.25 per cent shares it holds in green energy company Sterling and Wilson Renewable Energy Ltd (SWREL).

In a regulatory filing on Thursday, SWREL said, "Shapoorji Pallonji and Company Private Limited (seller) is one of (its) promoters. The seller proposes to sell up to 23,70,787 equity shares having a face value of Re 1 each, representing 1.25 per cent of the total issued and paid-up equity share capital of the company."

The Offer For Sale (OFS) shall take place on a separate window of the stock exchanges on August 12 from 9:15 am to 3:30 pm for non-retail investors.

The floor price of the offer shall be Rs 270 per equity share of the company, it said.