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Reliance New Energy Solar (RNSEL) has offered ₹375 a share to acquire 4.91 crore shares of Sterling and Wilson Solar for over ₹1,840 crore. The 4.91-crore shares constitute 25.9 per cent stake or the entire public holding in Sterling and Wilson Solar Ltd.
On October 10, the company had announced that RNESL had executed definitive agreements with Shapoorji Pallonji and Company Private Ltd (SPCPL), Khurshed Daruvala and Sterling and SWSL to acquire 40 per cent stake post-money in SWSL through a series of transactions.
RNESL is a wholly owned subsidiary of RIL.
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