Sterling & Wilson Solar Limited IPO Details

Sterling & Wilson Solar Limited IPO Details

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 ?

Company Promoters:

The promoters of the Company are Shapoorji Pallonji & Company Pvt Ltd and Khurshed Yazdi Daruvala.

Sterling & Wilson Company Financials:

Summary of financial Information (Restated)
Particulars For the year/period ended (in Rs. 10 Lakhs)
31-Mar-19 31-Mar-18 31-Dec-17
Total Assets 53,919.19 49,203.81 35,701.70
Total Revenue 82,404.08 68,717.08 32,324.81
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 :

Symbol SWSL
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, sterlingwilson.ipo@linkintime.co.in

 

Earnings per Equity Share (in million)

31-Dec-19 31-Mar-18 31-Dec-17
Basic 17.37 17.90 10.43
Diluted
3.67 3.78 2.20

Sterling and Wilson Solar Ltd
9th Floor
Universal Majestic, P L Lokhande Marg,
Chembur (West), Mumbai 400 043

Phone: +91 22 2548 5300
Email: ir@sterlingwilson.com
Websitehttps://sterlingandwilson.com/

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