Buy Side Advisor to Reliance New Energy Ltd. for Acquisition of 40% stake in Sterling & Wilson Renewable Energy Ltd.

Open Offer

Service

February 2022

Date

Infrastructure

Sector

INR 28,450 MN

Deal Value

Buy Side Advisor to Reliance New Energy Ltd. for Acquisition of 40% stake in Sterling & Wilson Renewable Energy Ltd.

Deal Highlights

  • Reliance New Energy Limited (RNEL) a wholly-owned subsidiary of Reliance Industries Ltd (RIL) has acquired 40.0% stake in Sterling and Wilson Renewable Energy Limited (SWREL)
  • Issue of preferential equity shares to RNEL constituting 15.46% of the post-preferential stake
  • Acquisition of 1.84cr equity shares (representing 9.70% of the post-preferential capital) from Shapoorji Pallonji and Company Private Ltd (SPCPL), a promoter of SWREL (“Tranche 1”)
  • Acquisition of such number of additional equity shares from SPCPL and Khurshed Daruvala, both promoters of SWREL, to ensure 40% shareholding in SWREL after considering the preferential issue, Tranche 1 and shares tendered in the open offer made by RNEL to public shareholders of SWREL

Our Contribution

  • Clear Ideation – we identified the potential of an investment at a very early stage and helped stitch the transaction from inception
  • Structuring the deal to ensure a favorable outcome for the client
  • We managed the entire open offer process and ensured timely approval from SEBI, thereby ensuring timely completion