According to the draft letter of the open offer, apart from Reliance New Energy Solar Limited (RNESL), the other Reliance Group companies that are working in concert (PAC) are Reliance Industries Limited (RIL) and Reliance Ventures Limited.
Reliance Group firm Reliance New Energy Solar has offered Rs 375 per share to acquire 4.91 crore shares of Sterling and Wilson Solar for over Rs 1,840 crore.
Sterling & Wilson Solar said in a regulatory filing that the 4.91 crore shares hold a 25.9% equity stake or the entire public stake in Sterling & Wilson Solar Ltd.
According to the draft letter of the open offer, apart from Reliance New Energy Solar Limited (RNESL), the other Reliance Group companies that are working in concert (PAC) are Reliance Industries Limited (RIL) and Reliance Ventures Limited.
As per the filing, Reliance New Energy Solar Limited has issued “draft letter of offer for open offer for acquisition of 4,91,37,420 fully paid-up equity shares of face value of Rs. represents. constitutes 25.90% of the emerging voting capital of Sterling & Wilson Solar Ltd…” Shares acquired by Reliance New Energy Solar Ltd in association with Reliance Industries Ltd (PAC1) and Reliance Ventures Ltd from public shareholders Will go (pac 2), filing added.
On 10 October, the company announced that RNESL had entered into definitive agreements with Shapoorji Pallonji & Company Private Limited (SPCPL), Khurshid Daruwala and Sterling and SWSL to acquire 40% stake in SWSL through a series of transactions. .
RNESL is a wholly owned subsidiary of RIL.
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