Sterling And Wilson Renewable Energy Promoters To Sell 1 Crore Shares For Rs 270 Crore
The offer for sale is being undertaken to meet the minimum public shareholding norms.
Sterling and Wilson Renewable Energy Ltd.’s promoters Shapoorji Pallonji and Co. and Khurshed Yazdi Daruvala will sell up to one crore equity shares through the offer for sale route at a floor price of Rs 270 per piece on Wednesday and Thursday.
Khurshed Yazdi Daruvala proposes to sell up to 30 lakh equity shares representing 1.58% of the total issued and paid-up equity share capital of the company on Dec. 20 and 21, 2022 at a floor price of Rs 270 per share, according to a BSE filing.
Shapoorji Pallonji and Co. Pvt. proposes to sell up to 70 lakh equity shares, representing 3.69% of the total issued and paid-up equity share capital of the company on Wednesday and Thursday at Rs 270 per share.
The offer for sale is being undertaken to meet the minimum public shareholding norms. Promoters hold around 76.69% stake in the company, as of September 2022.
Shares of the company declined by 1.87% to close at Rs 283.40 per piece on BSE on Monday.
Source : PTI
