Sterling and Wilson Renewable rises on launching QIP
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Sterling and Wilson Renewable Energy is currently trading at Rs. 424.00, up by 1.25 points or 0.30% from its previous closing of Rs. 422.75 on the BSE.
The scrip opened at Rs. 438.40 and has touched a high and low of Rs. 443.85 and Rs. 405.00 respectively. So far 328734 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 443.85 on 12-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. 443.85 and Rs. 375.00 respectively. The current market cap of the company is Rs. 8055.80 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 has launched its Qualified Institutional Placement (QIP) on December 11. The securities issuance committee has approved the floor price for the Issue, being Rs 365.02 per Equity Share (Floor Price), based on the pricing formula as prescribed under Securities and Exchange Board of India (SEBI) ICDR Regulations.
Pursuant to Regulation 176(1) of the SEBI ICDR Regulations and in accordance with the approval of the Shareholders accorded through a special resolution passed by way of postal ballot on October 27, 2023, the Company may at its discretion offer a discount of not more than 5% on the floor price so calculated for the Issue.
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.
