INSUBCONTINENT EXCLUSIVE:
Sterling and Wilson Solar Limited's 3-day IPO opened for subscription on Tuesday.Sterling and Wilson Solar Limited's three-day initial
public offer (IPO) opened for subscription on Tuesday
Sterling and Wilson Solar, a Shapoorji Pallonji group company, plans to raise Rs 3,125 crore by selling 4-4.03 crore equity shares in the
price band of Rs 775-780, according to the red herring prospectus filed by the company with market regulator Securities Exchange Board of
The issue is entirely an Offer for Sale (OFS) in which its promoters Shapoorji Pallonji and Company Private Limited and Chairman Khurshed
Yazdi Daruvala are selling their shares
According to the company's red herring prospectus, 75 per cent of the IPO is reserved for qualified institutional buyers (QIBs), 15 per
cent for non-institutional investors and the remaining 10 per cent for retail investors.Sterling and Wilson Solar Ltd (SWSL) is a global
pure-play, end-to-end solar engineering, procurement and construction (EPC) solutions provider
It was the world's largest solar EPC solutions provider in 2018 based on annual installations of utility-scale photovoltaic systems of
more than five mega-watt peak, brokerage HDFC Securities said in a note.Sterling and Wilson Solar IPO Fund utilisationThe objects of the
offer are to achieve the benefits of listing the equity shares on the stock exchanges and for the offer of the equity shares by the promoter
selling shareholders.Sterling Wilson and Solar (SWSL) expects that listing of the equity shares will enhance its visibility and brand image
and provide liquidity to its shareholders and will also provide a public market for the equity shares in India, the red herring prospectus
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