New Delhi : Promoters of Sterling And Wilson Renewable Energy, Shapoorji Pallonji and Company and Khurshed Yazdi Daruvala, sold 7.14 per cent of their stake in the company for Rs 1,040 crore through open market transactions on Friday. As per the information in the NSE's bulk deal data, Shapoorji Pallonji and Company Pvt Ltd sold 1.35 crore shares, representing a 5.78 percent stake in Sterling And Wilson Renewable Energy (SWSOLAR). Furthermore, Khurshed Yazdi Daruvala divested 31.50 lakh shares, representing a 1.35 pc stake, in solar EPC solutions company Sterling And Wilson Renewable Energy.
The stocks were sold for prices ranging from Rs 623.28 to Rs 630.01 each, resulting in a total transaction value of Rs 1,039.88 crore. Following the sale of shares, Shapoorji Pallonji and Company now holds 6.95 pc of SWSOLAR, down from 12.73 pc, and Daruvala's ownership has decreased from 1.48 pc to 0.13 pc. Furthermore, the collective ownership stake of the promoter and promoter group has decreased to 45.77 percent from 52.91 percent.
At the same time, according to data from the National Stock Exchange (NSE), Morgan Stanley, Societe Generale, and Citigroup Global Markets Mauritius bought 66 lakh shares, equivalent to 2.83 percent, in SWSOLAR. The stocks were bought at a mean price of Rs 623 each, resulting in a total worth of Rs 411.18 crore. Information about the other purchasers of shares from Sterling And Wilson Renewable Energy could not be determined. Sterling And Wilson Renewable Energy's stocks closed 1.63 pc up at Rs 652.90 each on the NSE.
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