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Corporate News
31-Jan-22
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Reliance New Energy completes acquisition of public shareholding in Sterling & Wilson Renewable Energy
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Reliance New Energy (RNEL), a wholly owned subsidiary of Reliance Industries, has on 28 January 2022 completed the acquisition from the public shareholders of Sterling & Wilson Renewable Energy (SWREL) of 84,76,251 equity shares of SWREL of face value of Rs 1 each at a price of Rs 375/- per equity share aggregating Rs 317.85 crore pursuant to the open offer made by RNEL (together with the Company and Reliance Ventures, as persons acting in concert with RNEL), under the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Consequent to such acquisition, RNEL holds 29.63% of the total paid-up equity share capital of SWREL.
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