Sterling and Wilson Renewable Energy Limited announced a private placement of 4,32,27,665 common shares at a price of INR 347 per share for gross proceeds of INR 14,999,999,755 on December 14, 2023. The transaction included participation from new investors Abakkus Emerging Opportunities Fund-1 for 12,80,000 shares, Abakkus Growth Fund - 1 for 12,00,228 shares, Abakkus Diversified Alpha Fund for 10,00,000 shares, Abakkus Growth Fund-2 for 9,88,00 shares, Abakkus Diversified Alpha Fund - 2 for 3,85,000 shares, funds managed by Abakkus Asset Management, LLP; Kotak Iconic Fund for 1,00,000 shares; Aryabhata Global Assets Funds ICAV - Aryabhata India Fund for 90,000 shares; Authum Investment & Infrastructure Limited for 37,46,398 shares; Troo Capital Ltd for 37,46,398 shares; BNP Paribas Funds - Energy Transition for 20,92,630 shares, BNP Paribas Funds - Emerging Climate Solutions for 5,64,464 shares, Bnp Paribas Funds - Global Climate Solutions Fund for 2,24,751 shares, funds managed by BNP Paribas Asset Management Luxembourg; East Bridge Capital Master Fund I Ltd for 28,81,845 shares, fund managed by East Bridge Capital Management LP; Goldman Sachs Funds SICAV - Goldman Sachs India Equity Portfolio for 27,67,793 shares, fund managed by Goldman Sachs Asset Management Global Services Ltd; New York State Teachers' Retirement System for 1,14,052 shares; Bandhan Mutual Fund - Bandhan Sterling Value Fund for 9,22,191 shares, Bandhan Mutual Fund - Bandhan Infrastructure Fund for 4,61,095 shares, Bandhan Mutual Fund - Bandhan Large Cap Fund for 3,45,821 shares, funds managed by Infrastructure Development Finance Co. Limited, Asset Management Arm; Bandhan Mutual Fund - Bandhan Multi Cap Fund for 5,76,369 shares, fund managed by IDFC Limited, Asset Management Arm; Aditya Birla Sun Life Insurance Company Limited for 23,05,476 shares; Cohesion India Best Ideas (Master) Fund Limited for 18,73,199 shares, fund managed by Reliance Asset Management (Singapore) Pte Limited; Singularity Equity Fund I for 2,88,185 shares.

The transaction has been approved by the board of directors of the company.