Sterling and Wilson Renewable Energy falls as its promoters to sell up to 1 crore shares of company
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Sterling and Wilson Renewable Energy is currently trading at Rs. 275.25, down by 8.15 points or 2.88% from its previous closing of Rs. 283.40 on the BSE.
The scrip opened at Rs. 276.00 and has touched a high and low of Rs. 279.60 and Rs. 274.50 respectively. So far 28948 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 423.15 on 17-Jan-2022 and a 52 week low of Rs. 273.35 on 27-Jul-2022.
Last one week high and low of the scrip stood at Rs. 302.70 and Rs. 274.50 respectively. The current market cap of the company is Rs. 5254.51 crore.
The promoters holding in the company stood at 76.69%, while Institutions and Non-Institutions held 6.55% and 16.76% respectively.
Sterling and Wilson Renewable Energy’s promoters -- Shapoorji Pallonji and Company and Khurshed Yazdi Daruvala have planned to sell up to one crore equity shares through the offer for sale route at a floor price of Rs 270 per piece.
Khurshed Yazdi Daruvala proposes to sell up to 30,00,000 equity shares representing 1.58 per cent of the total issued and paid-up Equity Share capital of the Company on December 20 and 21, 2022 at a floor price of Rs 270 per share. Shapoorji Pallonji and Company proposes to sell up to 70,00,000 Equity Shares representing 3.69 per cent of the total issued and paid-up equity share capital of the company at Rs 270 per share.
Sterling and Wilson Renewable Energy is engaged in the business of construction and maintenance of power plants. The company's products and services range include Contract activities and Operation Services.
