Sterling and Wilson Solar (SWSL) was formed by the demerger of Sterling and Wilson Private Ltd (SWPL)’s solar EPC business. The demerger was approved in March 2018 to be effective from April 1, 2017. Sterling and Wilson Solar took over all the assets and liabilities of SWPL’s solar EPC business.
Sterling and Wilson Solar and SWPL are subsidiaries of Shapoorji Pallonji & Company Private Limited (SPCL). Its’s promoters also include Khurshed Daruvala, the chairman of the company, who holds 33 per cent stake (pre-IPO). Both SPCL and Khurshed Daruvala together are selling up to 25 percent stake in the IPO offer. Promoters are anticipating to garner around RS. 3,125 crore from this issue.
In 2018, it had a market share of 40.4 percent of the solar EPC market in West Asia, 36.6 percent in Africa and 16.6 per cent in India. The company had a global market share of 4.6 percent of the solar EPC business as of 2018.
The promoters intend to use part of the funds raised through this IPO to pay off the debts owed to Sterling and Wilson Solar by another company in the group.
Compan has an impressive portfolio of 183 solar power projects with an aggregate capacity of 6,062.83 MWp across geographies. This has positioned Sterling and Wilson Solar Limited as the World’s Largest Solar EPC Solutions Provider in 2018 *by IHS Markit. You can read more about what is IPO Here ?
The promoters of the Company are Shapoorji Pallonji & Company Pvt Ltd and Khurshed Yazdi Daruvala.
Sterling & Wilson Company Financials:
|Particulars||For the year/period ended (in Rs. 10 Lakhs)|
|Profit After Tax||6,382.33||4,505.35||1,733.62|
Objects of the Issue :
The objects of the Offer are:
1. Achieve the benefits of listing the Equity Shares on the Stock Exchanges.
2. For the Offer of the Equity Shares by the Promoter Selling Shareholders.
3. Enhance visibility and brand image of company.
Sterling & Wilson Solar Limited IPO Details :
|Issue Period||06-Aug-2019 to 08-Aug-2019|
|Post issue Modification Period||09-Aug-2019 (10.00 A.M. to 11.00 A.M.)|
|Cut-off time for UPI Mandate Confirmation||09-Aug-2019 (upto 12:00 PM)|
|Issue Size||Initial Public offer of [.] Equity Shares aggregating upto 31,250 Million|
|Issue Type||100% Book Building|
|Price Range||Rs.775 to Rs.780|
|Face Value||Re 1|
|Tick Size||Re 1|
|Bid Lot||19 Equity Shares and in multiples thereof|
|Minimum Order Quantity||19 Equity Shares|
|Maximum Subscription Amount for Retail Investor||Rs. 2,00,000|
|IPO Market Timings||10.00 a.m. to 5.00 p.m.|
|Book Running Lead Managers||IndusInd Bank Limited and YES Securities (India) Limited|
|Global Co-Ordinators And Book Running Lead Managers||ICICI Securities Limited, Axis Capital Limited, Credit Suisse Securities (India) Private Limited, Deutsche Equities India Private Limited, IIFL Securities Limited and SBI Capital Markets Limited|
|Sponsor Bank||ICICI Bank Limited|
|Self Certified Syndicate Banks (SCSBs) eligible as Issuer Banks for UPI||Issuer Banks for UPI|
|Categories||FI, IC, MF, FII, OTH, CO, IND and NOH|
|Name of the Registrar||Link Intime India Private Limited|
|Address of the Registrar||C-101, 1st Floor, 247 Park, L.B.S Marg, Vikhroli (West), Mumbai 400 083|
|Contact person name number and Email id||Shanti Gopalkrishnan,+91 22 4918 6200, firstname.lastname@example.org|
Earnings per Equity Share (in million)
Sterling and Wilson Solar Ltd
Universal Majestic, P L Lokhande Marg,
Chembur (West), Mumbai 400 043
Phone: +91 22 2548 5300