Sterling and Wilson to sell 15% stake to Reliance solar unit

Sterling and Wilson Renewable Energy

10/10/2021 15:48

NEW DELHI, Oct 10 (Reuters) - Sterling and Wilson Solar Ltd
 STEN.NS  has agreed to sell a  15.46% stake in the company for
10.99 billion rupees ($146.3 million) to a unit of Indian
conglomerate Reliance Industries by issuing new shares, it said
in a stock exchange filing on Sunday.
    The company will hold a shareholder meeting on Nov. 2 to
approve the issuance of new shares to Reliance New Energy Solar
Ltd, Sterling said.
($1 = 75.1118 Indian rupees)

 (Reporting by Nidhi Verma
Editing by David Goodman
)
 ((nidhi.verma@thomsonreuters.com; +91 11 49548031; Reuters
Messaging: nidhi.verma.thomsonreuters.com@reuters.net))