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Hot Pursuit
27-Sep-23
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Sterling & Wilson Renewable board OKs to raise Rs 1,500 cr
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Sterling & Wilson Renewable Energy said that its board has approved to raise Rs 1,500 crore through equity shares or non convertible debentures (NCDs) in one or more tranches on private placement basis.
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The company will issue equity shares, global depository receipts, depository receipts, foreign currency convertible bonds fully/partly convertible debentures, non-convertible debentures, and/or any other financial instruments convertible into equity shares or a combination of any of the securities in one or more tranches through one or more public and/ or private offerings including by way of a qualified institutions placement or any combination thereof, for an aggregate amount not exceeding Rs 1,500 crore.
Sterling and Wilson Renewable Energy is a global pure-play, end-to-end renewable engineering, procurement and construction (EPC) solutions provider.
The company reported consolidated net loss of Rs 95.47 crore in Q1 FY24 as compared with Rs 353.91 crore in Q1 FY23. Net sales tumbled 57.3% year on year to Rs 514.96 in Q1 FY24.
The scrip fell 0.77% to Rs 355.85 on the BSE.
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Sterling & Wilson Renewable Energy slumps after Q4 loss widens to Rs 417 cr
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