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

August 13, 2022 Stu Turley ET Renewable, International News, M & A, Renewables

In a regulatory filing on Thursday, SWREL said, “Shapoorji Pallonji and Company Private Limited (seller) is one of (its) promoters.

Construction firm Shapoorji Pallonjiand Company Private Limited has proposed to offload the 1.25 per cent shares it holds in green energy companySterlingand WilsonRenewableEnergy 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

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About Stu Turley 3384 Articles

Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor. He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino. Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.