Shapoorji Pallonji and Khurshed Yazdi Daruvala Divest 7.14% Stake in Sterling Wilson Renewable Energy for Rs 1,040 Crore

Shapoorji Pallonji and Khurshed Yazdi Daruvala, promoters of Sterling And Wilson Renewable Energy, sold a 7.14% stake in the company for Rs 1,040 crore through open market transactions. According to NSE data, Shapoorji Pallonji and Company Pvt Ltd sold 1.35 crore shares, representing a 5.78% stake in the company.

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Khurshed Yazdi Daruvala also divested 31.50 lakh shares, equating to a 1.35% holding in Sterling And Wilson Renewable Energy. The shares were sold at prices ranging from Rs 623.28 to Rs 630.01 each, with the total transaction amounting to Rs 1,039.88 crore.

Stake Changes and New Acquisitions

Following this sale, Shapoorji Pallonji's stake in SWSOLAR decreased from 12.73% to 6.95%, while Daruvala's holding dropped from 1.48% to 0.13%. Consequently, the combined shareholding of the promoter and promoter group fell from 52.91% to 45.77%.

Morgan Stanley, Societe Generale, and Citigroup Global Markets Mauritius acquired a total of 66 lakh shares or a 2.83% stake in SWSOLAR at an average price of Rs 623 per share, totalling Rs 411.18 crore.

Market Performance and Company Profile

Sterling And Wilson Renewable Energy's shares closed up by 1.63%, reaching Rs 652.90 on the NSE. The company provides comprehensive renewable engineering, procurement, and construction solutions for utility-scale solar projects, including floating solar and hybrid energy storage systems.

In another transaction on the NSE, four promoters of Shivalik Bimetal Controls reduced their stake by 18%, selling it for Rs 632 crore through open market deals.

Shivalik Bimetal Controls Stake Sale

The promoters—Amar Engineering Company, Angad Estates Pvt Ltd, BS Sandhu & Associates, and Ultra Portfolio Management—sold over 1.03 crore shares or a 17.97% stake in Shivalik Bimetal Controls at an average price of Rs 610.60 per share, as per NSE block deal data.

This transaction reduced the combined holding of Shivalik Bimetal Controls' promoters from 51.14% to 33.17%. Domestic mutual funds and other investors such as SBI Mutual Fund, Aditya Birla Sun MF, DSP MF, HSBC MF, Franklin Templeton MF, Ashoka India Equity Investment Trust Plc, and Ambit Investment Advisors acquired these stakes.

Shivalik Bimetal Controls' shares increased by 1.18%, closing at Rs 624 each on the NSE.