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RIL eyes 26% more in Sterling & Wilson Solar

Photo for representational purpose only. File photo

New Delhi, October 27

Reliance Group firm Reliance New Energy Solar has offered Rs 375 per share to acquire 4.91 crore shares, constituting 25.9% equity stake or the entire public holding of Sterling and Wilson Solar for over Rs 1,840 crore.

Apart from Reliance New Energy Solar Ltd (RNESL), the other Reliance Group firms which would be persons acting in concert (PAC) are Reliance Industries Ltd (RIL) and Reliance Ventures Ltd, according to the draft letter of open offer.

On October 10, the company had announced that RNESL had executed agreements with Shapoorji Pallonji firm, Khurshed Daruvala and Sterling and SWSL to acquire 40% stake post-money in SWSL through a series of transactions. — PTI

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