Sterling and Wilson Renewable Energy Announces Equity Shares To Employees As ESOP

Sterling and Wilson Renewable Energy Limited (Sterling and Wilson) on Tuesday announced that the Nomination and Remuneration Committee (NRC) of the Board of Directors of the Company have approved allotment of 13,039 equity shares of Rs 1 each, to the Eligible Employees of the Company, upon exercise of the options vested with them under the SWREL ESOP Plan at the exercise price of Rs 238 per share, the company announced through an exchange filing.

The face value of the equity shares is Rs 1 each.

These Equity Shares shall rank pari-passu with existing equity shares in all respects.

Consequent to the allotment, the paid-up equity share capital of the Company has increased from Rs 18,96,93,333 consisting of 18,96,93,333 equity shares of Rs 1 each to Rs 18,97,06,372 consisting of 18,97,06,372 equity shares of Rs 1 each.

Sterling and Wilson Renewable Energy Limited shares

The shares of Sterling and Wilson on Tuesday at 3:30pm IST were at Rs 367.95, down by 2.09 percent.