Shapoorji Pallonji To Sell 2.5% In Sterling And Wilson Renewable


Shapoorji Pallonji announced on Monday that it will sell a 2.5 per cent stake in Sterling and Wilson Renewable through an offer for sale (OFS).

Shapoorji Pallonji, the promoter, will offload stake in Sterling and Wilson Renewable Energy between 20 December and 21 December.

The floor price has been set at Rs 270 per share.

The T day, December 20th, is for non-retail category investors. Retail investors will be able to bid on the T+1 day, December 21, and 10 per cent of the offer will be reserved for them.

The bidding will take place on NSE. Before the announcement on Monday, Sterling and Wilson shares were down 1.9% at Rs 283.25 each.

Sterling & Wilson Renewable Energy recently received a $1.5 billion order from the Nigerian government, along with consortium partner Sun Africa, for the installation of solar PV power plants.

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