RIL completes acquisition of 40 per cent stake in SWREL

Reliance Industries Limited (RIL) has completed the acquisition of a 40 per cent equity stake in the Shapoorji Pallonji Group’s Sterling and Wilson Renewable Energy Limited (SWREL). RIL’s subsidiary Reliance New En­ergy Limited has acquired a 10.37 per cent stake in SWREL at a price of Rs 375 per share, amounting to Rs 7.37 billion, from Shapoorji Pallonji and Company Private Limited and Khurshed Daruvala, both promoters of SWREL. This was the last tranche of the transaction, culminating in a 40 per cent stake for RIL. In October 2021, RIL had announced its plan to acquire a stake in SWREL through a combination of primary investment, secondary purchase and open offer.