Sterling and Wilson Renewable Energy Ltd to raise Rs. 1500 crores

The Board of Directors of Sterling and Wilson Renewable Energy Limited ("Board") at its meeting held today, i.e., Wednesday, September 27, 2023 considered and approved raising of funds by way of issuance of equity shares, global depository receipts, depository receipts, foreign currency convertible bonds fully/partly convertible debentures, non-convertible debentures, and/or any other financial instruments convertible into equity shares (including warrants) or a combination of any of the securities ("Securities") mentioned above in one or more tranches through one or more public and/ or private offerings including by way of a qualified institutions placement or any combination thereof or any other method as may be permitted under applicable laws to eligible investors for an aggregate amount not exceeding Rs. 1,500 Crore (Rupees One Thousand Five Hundred Crore Only) in one or more tranches subject to such regulatory/ statutory approvals as may be required, including the approval of the shareholders of the Company through a postal ballot.

The details with respect to the issuance of Securities as required under Regulation 30 of the SEBI Listing Regulations will be disclosed when determined by the Board subject to approval of the shareholders of the Company.

Shares of Sterling And Wilson Solar Limited was last trading in BSE at Rs. 355.95 as compared to the previous close of Rs. 358.60. The total number of shares traded during the day was 8361 in over 446 trades.

The stock hit an intraday high of Rs. 370.00 and intraday low of 354.10. The net turnover during the day was Rs. 2998528.00.

Source : Equity Bulls

Keywords

SterlingAndWilsonSolar INE00M201021 FundRaising