Sterling and Wilson Solar Ltd IPO
Sterling and Wilson Solar Ltd IPO
IPO Date :
Issue Price :
Allotment Date :
Listing Date :
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Having completed its public offering, Sterling and Wilson Solar Ltd's is now listed and trading on the NSE, BSE exchange as of 20-08-2019. The IPO raised cumulative capital of 4,03,22,580 Shares, including TBD in primary capital infusion and ₹3125.00 Cr in secondary market transactions.
The IPO was conducted with a price range of ₹775 to ₹780 and minimum investment requirement of 19 shares. subscription activity between 06-08-2019 and 08-08-2019 reflected market assessment of the offering's valuation and prospects.
The allotment process finalized on 16-08-2019 distributed equity ownership to successful bidders. The listing established a transparent market mechanism for share trading, price discovery, and investor participation in the company's future growth.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Sterling and IPO About Company
Sterling & Wilson Solar Limited (SWSL), incorporated in 2017 and based in Mumbai, specializes in providing solar engineering, procurement, and construction (EPC) solutions. The company focuses primarily on utility-scale solar power projects, managing them from initial planning and design to final commissioning. It also offers operations and maintenance (O&M) services for third-party projects. Originally functioning as the Solar EPC division of Sterling and Wilson Private Limited (SWPL) since 2011, the company became an independent entity following a demerger on April 1, 2017. Before the demerger, it operated under the name Rashmika Energy Private Limited. According to IHS Markit, SWSL was recognized as the world’s largest solar EPC provider in 2018 based on the volume of utility-scale photovoltaic system installations. The company now operates in 26 countries and delivers customized solar solutions to its clients. SWSL follows a hub-and-spoke model, where India serves as the central hub for the entire supply chain, including engineering, design, and collaboration with third-party subcontractors and suppliers. The company focuses on enhancing the performance of solar projects by offering cost-effective, innovative designs supported by a skilled design and engineering team, which includes 138 professionals dedicated to engineering and design work.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Sterling and IPO Strength Factors
- The world’s largest provider of solar EPC solutions
- Has a dedicated team for design and engineering
- Benefits from the strong brand image of the SP group and S&W
- Shows strong financial performance
- Backed by a reliable and experienced promoter
Sterling and IPO Risk Factors
NA
Sterling and IPO Lead Manager(s)
- Axis Capital Limited
- Credit Suisse Securities (India) Private Limited
- Deutsche Equities India Private Limited
- ICICI Securities Limited
- IIFL Securities Limited
- Indusind Bank Limited
- SBI Capital Markets Limited
- Yes Securities (India) Limited
Sterling and IPO Promoter(s)
Shapoorji Pallonji and Company Private Limited
Khurshed Yazdi Daruvala
Sterling and IPO FAQs
Sterling and Wilson Solar Ltd IPO subscribed 0 times. The public issue subscribed -- times in the retail category,--times in QIB, and -- times in the HNI (10+) category byApril 15, 2025 8:02:56 AM (Day 15).
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Sterling and IPO IPO Investor Categories
The offer proceeds will be utilised towards the following investor categories in compliance with SEBI regulations:
Qualified Institutional Buyers (QIB)
Financial Institutions, Banks, FIIs, and Mutual Funds registered with SEBI are called QIBs. In most cases, QIBs represent small investors who invest through mutual funds, ULIP schemes, and pension schemes.
Non-Institutional Investors (NII / HNI)
Retail Individual Investors (HNI), NRIs, Companies, Trusts, etc. who bid for shares worth more than ₹2 lakhs are known as Non-Institutional Bidders. Unlike QIBs, they do not need SEBI registration.
Subcategories of NII:
- sNII (Small NII – bids below ₹10 Lakhs)
For bids between ₹2–10 lakhs. One-third of NII shares are reserved for this category, also known as Small HNI (sHNI).
- bNII (Big NII – bids above ₹10 Lakhs)
For bids above ₹10 lakhs. Two-thirds of NII shares are reserved for this category, also called Big HNI (bHNI).
- sNII (Small NII – bids below ₹10 Lakhs)
Retail Individual Investors (RII)
Individual investors or NRIs who apply up to ₹2 lakhs in an IPO are considered under the RII reserved category.
Employee (EMP)
A category of eligible employees who have a reserved quota in the IPO.
Others
This includes eligible shareholders or other investors with reserved quotas in the IPO.
Sterling and IPO FAQs
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