Block Deal Worth Rs 1,110.9 Crore in Sterling and Wilson Renewable Energy

Sterling and Wilson Renewable Energy Limited (SWREL) is a global leader in providing end-to-end renewable engineering, procurement, and construction (EPC) solutions. With a presence in 28 countries, SWREL has established itself as a pure-play renewable energy company specializing in utility-scale solar, floating solar, hybrid, and energy storage solutions. The company has a robust portfolio of over 19.4 GWp of projects, including those under various stages of construction and operation. Additionally, SWREL manages an impressive 8.2 GWp operation and maintenance (O&M) portfolio, which includes projects constructed by third parties.

Block Deal on NSE

A significant block deal involving Sterling and Wilson Renewable Energy Limited was reported on the NSE at 9:20 am. The deal saw the exchange of 17,661,436 shares, amounting to Rs 1,110.9 crore, at a price of Rs 629 per share. Following this transaction, SWREL’s stock was observed trading at Rs 651, up by 1.42% on the NSE, indicating a positive reaction in the market.

Recent Domestic Orders: A Boost to Growth

In addition to the block deal, SWREL has recently secured two major domestic orders from private Independent Power Producers (IPPs), valued at Rs 512 crore. These include:

1. A 200 MW AC / 250 MWp DC PV project in Gujarat, India: The company will undertake the engineering, procurement, and construction (EPC) for this large-scale solar power plant.
2. A 50 MW AC / 65 MWp DC PV project in Maharashtra, India: Another significant order where SWREL will be responsible for the complete EPC work.

These new projects further strengthen the company’s footprint in India’s growing renewable energy sector and reaffirm its position as a preferred EPC provider for large-scale solar projects.

Promoter Group Share Pledge

In regulatory updates, Kainaz Khurshed Daruvala, a member of SWREL’s Promoter Group, recently pledged an additional 500,000 equity shares as security for a loan amounting to Rs 200 crore. This pledge increases her total encumbered shareholding to 5.37% of the company’s total share capital. The loan was facilitated by 360 ONE Prime Limited and is tied to a financial arrangement for Delsys Infotech Private Limited.

This development was disclosed under Regulation 31(1) of SEBI’s Substantial Acquisition of Shares and Takeovers Regulations, 2011, with all necessary filings submitted to both the BSE and NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.