SWREL secures Rs 15 billion through QIP

Sterling and Wilson Renewable Energy Limited announced that it has raised Rs 15 billion through the qualified institutional placement (QIP) route. On December 14, 2023, the Securities Issuance Committee of the board of directors approved the issue and the allocation of 43,227,665 equity shares with a face value of Re 1 each to qualified institutional buyers that meet the eligibility requirements. The equity shares were issued at Rs 347 per equity share, which included a premium of Rs 346 per equity share. The QIP of Rs 15 billion received significant interest from both domestic mutual funds and prominent global foreign institutional investors.