Shares of Sterling and Wilson Renewable Energy zoomed 5 percent after promoter Shapoorji Pallonji and Company sold 39,14,279 equity shares or 2.06 percent stake in the company. At 10am, the stock was trading at Rs 432.
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On December 15, the Sterling and Wilson Renewable Energy promoters sold stakes worth 2.06 percent or 39,14,279 equity shares through open market transactions at a price of Rs 415.46 per share. Plutus Wealth Management LLP bought 25 lakh shares or 1.3 percent stake in the company at a price of Rs 410 per share at the same time. As of September 2023, promoter holding in the company was 67.56 percent with Shapoorji Pallonji holding 18.3 percent. With this sale, their share will now be around 16.24 percent.
Also read: Sterling and Wilson Renewable Energy Sep quarter net loss narrows to Rs 54.51 cr
On December 14, the energy company announced the completion of a
raising Rs 1,500 crore through the qualified institutions placement (QIP) route. In a filing, it said that the Securities Issuance Committee of the Board of Directors had approved the issue and allotment of 4,32,27,665 equity shares at an issue price of Rs 347 per share, including the premium of Rs 346.
Sterling and Wilson Renewable is an engineering, procurement and construction (EPC) solutions provider.
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