Shapoorji Pallonji selling its 1.25% stake in Sterling -; Wilson; stock dips ~4%

12 Aug 2022 , 11:48 AM

Shapoorji Pallonji and Company Private Limited have proposed selling its 1.25% stake in green energy company Sterling and Wilson Renewable Energy Ltd. (SWREL).

Shapoorji anticipates selling up to 23,70,787 equity shares having a face value of Rs1 each, representing 1.25% of the total issued and paid-up equity share capital of the company.

The company informed that an Offer for Sale (OFS) will take place on a separate stock exchange window on August 12 from 9.15 AM to 3.30 PM for non-retail investors.

At around 11.44 AM, Sterling & Wilson was trading 3.63% lower at Rs278.50 against the previous close of Rs289 on NSE. So far, it hit intraday high and low of Rs282.95 and Rs276.50 respectively.