Sterling and Wilson Renewable Energy surges on raising Rs 1,500 crore through QIP route
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Sterling and Wilson Renewable Energy is currently trading at Rs. 437.50, up by 13.40 points or 3.16% from its previous closing of Rs. 424.10 on the BSE.
The scrip opened at Rs. 445.30 and has touched a high and low of Rs. 445.30 and Rs. 432.00 respectively. So far 130219 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 445.30 on 15-Dec-2023 and a 52 week low of Rs. 253.45 on 19-Oct-2023.
Last one week high and low of the scrip stood at Rs. 445.30 and Rs. 404.10 respectively. The current market cap of the company is Rs. 8047.26 crore.
The promoters holding in the company stood at 67.56%, while Institutions and Non-Institutions held 9.32% and 23.13% respectively.
Sterling and Wilson Renewable Energy (SWRE) has raised Rs 1,500 crore through Qualified Institutions Placement (QIP) route. The Securities Issuance Committee of Board of Directors at its meeting held on December 14, 2023 approved the issue and allotment of 4,32,27,665 equity shares of face value Rs 1 each to eligible qualified institutional buyers at the issue price of Rs 347 per equity share (including the premium of Rs 346 per equity share. The Rs 1,500 crore QIP witnessed a strong response from both domestic mutual funds and marquee global FIIs.
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.
