Till 10:04 am, a combined 116,243 equity shares changed hands and there were pending sell orders for 794,919 on the NSE and BSE.
The BSE said the exchange has sought clarification from Sterling and Wilson Solar with reference to significant movement in price. The reply is awaited.
On Thursday, November 14, SWSL said the company received request from promoters of the company - Shapoorji Pallonji and Company (SPCPL) and Khurshed Y. Daruvala - for revised repayment schedule for the balance outstanding amount due w.r.t. portion of the net offer proceeds of the initial public offering (IPO) of the Company to be used for repayment of the outstanding dues from Sterling Wilson Private Limited (SWPL) and its subsidiary Sterling Wilson International FZE (SWFZE).
The promoters requested the board of the company to consider a revised repayment schedule for the balance outstanding amount of Rs 2,341 crore as on September 30, 2019 due to the significant and rapid deterioration in the credit markets
creating a significant liquidity crisis, all of which was unforeseeable and coupled with the lesser-than-expected realisation from the IPO. The company realised Rs 2,850 crore from IPO as compared to Rs 4,500 crore as initially contemplated, it added.
The company said it will work with the promoters to draw up a plan by December 31, 2019, for repayment of the balance amounts. SPCPL will endeavour to reduce the outstanding loan by Rs 1,000 crore from the level as of the date of listing, by December 31, 2019.