 "Morgan Stanley")
Investment banking firm Morgan Stanley on Tuesday bought a 1.5 per cent stake in Sterling and Wilson Renewable Energy for Rs 103 crore through an open market transaction.
Billionaire Mukesh Ambani's Reliance New Energy and Shapoorji Pallonji Group's promoted-Sterling and Wilson Renewable Energy Ltd (SWREL) are the leading solar EPC solution providers.
US-based Morgan Stanley through its affiliate Morgan Stanley Asia Singapore purchased 36.44 lakh shares, amounting to a 1.56 per cent stake in Mumbai-based Sterling and Wilson Renewable Energy, as per the bulk deal data available on the NSE.
The shares were disposed of at an average price of Rs 282.20 apiece, taking the transaction value to Rs 102.84 crore.
Meanwhile, Goldman Sachs, through its arm Goldman Sachs Funds - Goldman Sachs India Equity Portfolio, sold 34.27 lakh shares or a 1.47 per cent stake in SWREL for Rs 97 crore.
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The shares were offloaded at an average price of Rs 282.46 apiece, taking the deal size to Rs 96.82 crore, data showed on the National Stock Exchange (NSE).
Other sellers of SWREL's shares could not be ascertained on the exchange.
Shares of Sterling and Wilson Renewable Energy fell 6 per cent to close at Rs 294.75 apiece on the NSE.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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