Business Companies 02 Aug 2019 Sterling & Wilso ...

Sterling & Wilson IPO on August 6

FC INVESTIGATIVE BUREAU | DECCAN CHRONICLE
Published Aug 2, 2019, 2:37 am IST
Updated Aug 2, 2019, 2:37 am IST
The IPO comprises an offer for sale by the promoters Shapoorji Pallonji and Company for Rs 2,083.33 crore and by Khurshed Yazdi Daruvala of shares worth Rs 1,041.67 crore. (Representational Image)
 The IPO comprises an offer for sale by the promoters Shapoorji Pallonji and Company for Rs 2,083.33 crore and by Khurshed Yazdi Daruvala of shares worth Rs 1,041.67 crore. (Representational Image)

Mumbai: Pure-play solar power related engineering, procurement and construction (EPC) solutions provider, Sterling and Wilson Solar announced its initial public offering aiming to raise Rs 3,125 crore with a price band of Rs 775 to Rs 780 per equity share of Re 1 face value.

The public offer opens on August 6 and closes on August 8.  The company operates in India, Africa and Middle East.

As of March 31, 2019, the Company had 205 commissioned and contracted solar power projects with an aggregate capacity of 6,870.12 MW and its order book stood at Rs 3,831.58 crore as of March 31, 2019.

The IPO comprises an offer for sale by the promoters Shapoorji Pallonji and Company for Rs 2,083.33 crore and by Khurshed Yazdi Daruvala of shares worth Rs 1,041.67 crore.

From the total shares on offer 50 per cent is reserved for the qualified institutional buyers, 15 per cent for high net worth individuals or non-institutional bidder and 35 per cent for the retail individual investors.

Book running lead managers  to the issue includes ICICI Securities, Axis Capital, Credit Suisse Securities, Deutsche Equities, IIFL Securities and SBI Capital Markets.

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