Morgan Stanley buys 1.5% in Sterling & Wilson Renewable Energy

New Delhi: Investment banking firm Morgan Stanley on Tuesday bought a 1.5 per cent stake in Sterling and Wilson Renewable Energy for ₹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% 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 ₹282.20 apiece, taking the transaction value to ₹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% stake in SWREL for ₹97 crore.