Sterling and Wilson Solar Limited
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Having completed its public offering, Sterling and Wilson Solar Limited's is now listed and trading on the NSE, BSE exchange as of Aug 20, 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 Aug 06, 2019 and Aug 08, 2019 reflected market assessment of the offering's valuation and prospects.
The allotment process finalized on Aug 16, 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 & 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."
- Strong Presence in Solar EPC Business: Engaged in large-scale solar engineering, procurement, and construction projects with domestic and international presence.
- Global Project Execution Capability: Experience in executing utility-scale solar projects across multiple regions supports strong credibility and business opportunities.
- Benefits from Renewable Energy Growth: Rising focus on clean energy and increasing solar adoption support long-term growth potential.
- Project-Based Revenue Fluctuation: Revenue depends on project awards and execution timelines, which can create variability in earnings.
- Working Capital Intensive Operations: Large solar projects require significant investment in execution and receivables management.
- Dependence on Policy Support: Business performance can be affected by government policies, incentives, and renewable energy regulations.
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