Reliance New Energy Solar Limited (RNESL), a wholly owned subsidiary of Reliance Industries Limited (RIL) has acquired, by way of off-market purchase, 1,84,00,000 equity shares of face value of Rs. 1 each at a price of Rs. 375 per equity share aggregating Rs. 690,00,00,000 from Shapoorji Pallonji and Company Private Limited, one of the promoters of SWREL. 

Consequent to such acquisition, RNESL holds 25.16% of the total paid-up equity share capital of SWREL.

This is further to the disclosures dated October 10, 2021 and December 31, 2021 made by Reliance Industries Limited intimating execution of definitive agreement for acquisition of 40% stake in Sterling and Wilson Renewable Energy Limited (SWREL) (formerly known as Sterling and Wilson Solar Limited) by Reliance New Energy Solar Limited (RNESL), a wholly owned subsidiary of the company, and subsequent preferential allotment of 2,93,33,333 equity shares of face value of Rs. 1 each at a price of Rs. 375 per equity share by SWREL to RNESL, representing 15.46% of the post preferential issue paid-up equity share capital of SWREL.