Reliance Industries’ wholly owned subsidiary -- Reliance New Energy (RNEL) (formerly known as Reliance New Energy Solar) has completed the acquisition from the public shareholders of Sterling and Wilson Renewable Energy (SWREL) of 84,76,251 equity shares of SWREL of face value of Rs 1 each at a price of Rs 375 per equity share aggregating Rs 317.85 crore pursuant to the open offer made by RNEL (together with the Company and Reliance Ventures, as persons acting in concert with RNEL), under the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Consequent to such acquisition, RNEL holds 29.63% of the total paid-up equity share capital of SWREL.
Reliance Industries is India’s largest private sector company. The company’s activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.
