116 Shapoorji Pallonji has announced plans to sell a 2.5% stake in Sterling and Wilson Renewable Energy through an offer for sale. The sale will take place on December 20 and 21, with the floor price set at INR 270 per share. On the first day, the sale will be open to non-retail investors, while retail investors will be able to participate on the second day. A minimum of 25% of the offer has been reserved for mutual funds and insurance companies, and 10% has been reserved for retail investors. The bidding will take place on the National Stock Exchange. Sterling and Wilson Renewable Energy recently won a $1.5 billion contract from the government of Nigeria to build solar PV power plants. On Monday, the company scrip ended 1.9% down at INR 283.25 on BSE. You Might Be Interested In Economists Forecast Continued Inflation Decline Despite Stable September Figures Treasury yields near 16-year high as bond market shifts from low rate era Analysts Predict Massive Rally as Alibaba’s Bottom Appears Asian stocks fall and Europe subdued ahead of central banker speeches Bank of England holds interest rates at 5.25% Bill Ackman Anticipates Federal Reserve to Initiate Interest Rate Cuts Sooner Than Market Predictions
