SWRE board approves allotment of 29.3 million shares worth Rs 10.99 billion to RNESL

Sterling and Wilson Renewable Energy (SWRE) approved the allotment of 29.3 million equity shares for Rs 10.99 million to Reliance New Energy Solar Limited (RNESL).

RNESL will hold 15.46 per cent paid-up equity share capital of SWRE after this transaction. Earlier in October 2021, RNESL had executed definitive agreements with Shapoorji Pallonji and Company Private Limited, Khurshed Daruvala, and Sterling & Wilson Solar Limited (SWSL) to acquire 40 per cent stake post-money in SWSL through a series transactions.