RIL to acquire 40% stake in S&W Solar
Business Standard|October 11, 2021
Within hours of announcing acquisition of REC Solar Holdings for $771 million, Reliance Industries announced on Sunday that its subsidiary will acquire a 40 per cent stake in Sterling & Wilson Solar Ltd through a combination of primary investment, secondary purchase and open offer for around₹2,850 crore.
DEV CHATTERJEE
RIL to acquire 40% stake in S&W Solar

Reliance New Energy Solar Ltd (RNESL), a subsidiary of Reliance Industries, will first acquire 15 per cent in Sterling & Wilson by way of a preferential allotment of 29.3 million equity shares (equivalent to 15.46 per cent post preferential share capital) at 375 per share. RIL will also acquire 18.4 million equity shares by RNESL from SP group company (equivalent to 9.7 per cent post preferential share capital) at a price of 375 per share. This will cost RIL about 1,100 crore.

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