Investment banking firm Morgan Stanley on Tuesday bought a 1.5 per cent stake in Sterling and Wilson Renewable Energy for ₹103 crore through an open market transaction.
Billionaire Mukesh Ambani’s Reliance New Energy and Shapoorji Pallonji Group’s promoted Sterling and Wilson Renewable Energy Ltd (SWREL) are the leading solar EPC solution providers.
US-based Morgan Stanley through its affiliate Morgan Stanley Asia Singapore purchased 36.44 lakh shares, amounting to a 1.56% stake in Mumbai-based Sterling and Wilson Renewable Energy, as per the bulk deal data available on the NSE. The shares were disposed of at an average price of ₹282.20 apiece, taking the transaction value to ₹102.84 crore.
Meanwhile, Goldman Sachs, through its arm Goldman Sachs Funds – Goldman Sachs India Equity Portfolio, sold 34.27 lakh shares or a 1.47% stake in SWREL for ₹97 crore.
Source: Economic Times