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Mukesh Ambani’s Reliance New Energy Solar has submitted an open offer to acquire 25.9% stake in Sterling and Wilson Solar at a 12% discount to the current share price. The energy venture of Reliance Industries Limited (RIL) has offered Rs 375 per share of Sterling and Wilson Solar, a draft offer letter showed. The open offer will see Mukesh Ambani firm shell out Rs 1,840 crore for a 25.9% stake in the company. Earlier this week, Reliance New Energy Solar had informed the bourses that it will acquire NexWafe GmbH for 25 million euros (Rs 218 crore). Sterling and Wilson Solar share price fell 0.19% to Rs 420 apiece today.
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