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Sterling and Wilson Solar Ltd IPO (Sterling and Wilson IPO) Detail

Aug 6, 2019 - Aug 8, 2019

Incorporated on 2017, Mumbai based Sterling & Wilson Solar Limited (SWSL) is engaged in providing solar engineering, procurement and construction (EPC) solutions to the end-users. SWSL is focused on utility-scale solar power projects and manages the solar projects from conceptualizing to commissioning. It provides operations and maintenance (O&M) services for the 3rd party projects as well. It was previously named as Rashmika Energy Private Limited.

The company started its operation as a Solar EPC Division of SWPL in 2011 and demerged on April 1, 2017. According to IHS Markit, the company was the world's largest solar EPC solutions provider in 2018 based on annual installations of utility-scale PV systems. Currently, it has a wide presence across 26 countries.

Sterling & Wilson offers customized solutions to its customers for solar power projects. The company follows a "hub-and-spoke" business model where services go from the central hub to several spokes or routes to reach the end-users. India works as a hub of the company for the complete supply chain including engineering functions, design, and engage 3rd party subcontractors and suppliers. The company aims to improve the performance ratio by offering cost-effective and innovative designing solutions supported by an engineering and competent design team. It has 138 employees in the design and engineering team.

Competitive Strengths


1. World's largest solar EPC solutions provider
2. A dedicated design and engineering team
3. Takes benefits of the brand image of the SP group and S&W
4. Strong financial performance
5. Strong promoter

Risk to Investors


  • The six global coordinators and book running lead managers and two book running lead managers associated with the offer have handled 48 public issue in the past three years out of which 18 closed below the issue price on listing date.
  • The Price/Earnings ratio based on diluted EPS for fiscal 2019 for the issuer at the upper end of the Price Band is as high as 19.57.
  • The average cost of acquisition per Equity Share for the promoter selling shareholders is nil per equity share.

Company Promoters:

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

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. To 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. To enhance visibility and brand image.

Sterling and Wilson IPO Details

Issue OpenAug 6, 2019 - Aug 8, 2019
Issue TypeBook Built Issue IPO
Issue Size40,322,580 Eq Shares of ₹1
(aggregating up to ₹3,145.16 Cr)
Offer for Sale[.] Eq Shares of ₹1
(aggregating up to ₹3,125.00 Cr)
Face Value₹1 Per Equity Share
Issue Price₹775 - ₹780 Per Equity Share
Market Lot19 Shares
Min Order Quantity19 Shares
Listing AtBSE, NSE

Sterling and Wilson IPO Tentative Date / Timetable

Bid/Offer Opens OnAug 6, 2019
Bid/Offer Closes OnAug 8, 2019
Finalisation of Basis of AllotmentAug 14, 2019
Initiation of RefundsAug 16, 2019
Credit of Shares to Demat AcctAug 19, 2019
IPO Shares Listing DateAug 20, 2019

Sterling and Wilson IPO Lot Size and Price (Retail)

ApplicationLotsSharesAmount (Cut-off)
Minimum119₹14,820
Maximum13247₹192,660

Sterling and Wilson IPO Promoter Holding

Pre Issue Share Holding100%
Post Issue Share Holding75%

Offer Size Allocated

QIB Portion: At least 75% of the offer;
Retail Portion: Not more than 10% of the offer
NII Portion: Not more than 15% of the offer

IPO Notices

External Link

Sterling and Wilson Solar IPO Successfully Subscribed

As the issue is entirely an Offer for Sale and the QIB portion is 75%, the basic requirement for the success of the same according to the SEBI regulations, is that the QIB portion should be fully subscribed. Hence, this OFS of Sterling and Wilson Solar is successfully subscribed with an overall 92% subscription including anchor investors. Issue stands close with the subscription received. All eligible applicants will get full allotment.

Sterling and Wilson IPO Subscription Status (Bidding Detail)

Sterling and Wilson IPO how much subscribed?

No. of Times Issue Subscribed (BSE + NSE)

As on Date & Time

QIB

NII

RII

Total

Shares Offered

12,096,774

6,048,387

4,032,258

22,177,419

Aug 8, 2019 17:00

1.02x

0.89x

0.30x

0.85x

Sterling and Wilson IPO Prospectus

Sterling and Wilson IPO Rating

531
4.1
Rating:Rated 4.1 stars

Vote Here ...

Sterling and Wilson IPO Listing Date

Listing DateTuesday, August 20, 2019
BSE Script Code542760
NSE SymbolSWSOLAR
Listing InB
ISININE00M201021
Issue Price₹780 Per Equity Share
Face Value₹1 Per Equity Share

Listing Day Trading Information

.
Issue Price
Open
Low
High
Last Trade
Volume
BSE
₹780.00
₹700.00
₹691.00
₹755.50
₹725.35
308,653
NSE
₹780.00
₹706.00
₹690.10
₹753.45
₹726.20
4,599,673

Sterling and Wilson IPO Registrar

Link Intime India Private Ltd
   Link Intime India Private Ltd
   C 101, 247 Park, L.B.S.Marg,
   Vikhroli (West), Mumbai - 400083

Phone: +91-22-4918 6270
Email: sterlingwilson.ipo@linkintime.co.in
Website: http://www.linkintime.co.in

Sterling and Wilson IPO FAQs

  1. 1. What is Sterling and Wilson IPO?

    Sterling and Wilson IPO is an main-board initial public offering of 40,322,580 equity shares of the face value of ₹1 aggregating up to ₹3,145.16 Crores.

    The issue price of the IPO is ₹775 - ₹780 Per Equity Share. The minimum order quantity is 19 Shares per application and the offer type is Book Built Issue.

    The IPO opens on Aug 6, 2019 and closes on Aug 8, 2019.

    Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

  2. 2. When Sterling and Wilson IPO will open?

    The Sterling and Wilson IPO opens on Aug 6, 2019 and closes on Aug 8, 2019.

  3. 3. How to apply for Sterling and Wilson IPO?

    Sterling and Wilson IPO application can be done through banks using ASBA online or through stock brokers trading account using UPI. All popular banks i.e. HDFC, ICICI, and SBI offer online IPO applications. An investor can also apply directly through their broker (i.e. Zerodha, Sharekhan) using UPI as a payment method.

  4. 4. When Sterling and Wilson IPO allotment?

    The finalization of Basis of Allotment for Sterling and Wilson IPO will be done on Aug 14, 2019, and the allotted shares will be credited to your demat account by Aug 19, 2019. Check the Sterling and Wilson IPO allotment status.

  5. 5. When is Sterling and Wilson IPO listing date?

    The Sterling and Wilson IPO listing date is on Tuesday, August 20, 2019, at BSE, NSE.

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Sterling and Wilson IPO Review / Comments

👉 IPO Janadesh 💃
107. 👉 IPO Janadesh 💃  Sep 13, 2019 22:22 I Like It. 5 | Report Abuse Reply
IPO Mentor IPO Mentor (700+ Posts, 1700+ Likes)
If Nifty closes above 11,200 next week , more IPOs are likely to hit in the market.Most probable IPOs are ASK invt. manager , AGS Tech. , Harsh Eng.
👉 IPO Janadesh 💃
107.2. 👉 IPO Janadesh 💃  Sep 16, 2019 15:18 I Like It. 2 | Report Abuse
IPO Mentor IPO Mentor (700+ Posts, 1700+ Likes)
Equitas touch Lower Circuit after declaration of IPO process by March 2020.
👉 IPO Janadesh 💃
107.3. 👉 IPO Janadesh 💃  Sep 20, 2019 11:54 I Like It. 3 | Report Abuse
IPO Mentor IPO Mentor (700+ Posts, 1700+ Likes)
Nifty
crossed
11200 (+ 500 )
benchmark.

Hopefully
half
of
the
dozen
IPOs
enter
the
market.
MS ASSOCIATE
106. MS ASSOCIATE  Sep 13, 2019 15:44 I Like It. 4 | Report Abuse Reply
upcoming IPO in Sep ???
amit K singh
106.2. amit K singh  Sep 15, 2019 12:24 I Like It. 4 | Report Abuse
Agree, Money is looted from PSUs and PSBs by the politicians an their businessmen friends in thousands of crores.. corruption at it height in this country.. Where will these companies make profit? Avoid PSU,psb is the only option..
👉 IPO Janadesh 💃
106.3. 👉 IPO Janadesh 💃  Sep 16, 2019 15:16 I Like It. 2 | Report Abuse
IPO Mentor IPO Mentor (700+ Posts, 1700+ Likes)
Very much true Amit.Sky is the limit for this corrupted administration.No ' CHALLAN ' for these politicians.Rules are made only to rob common man.
Aniketiaf
105. Aniketiaf  Sep 14, 2019 22:15 I Like It. 8 | Report Abuse Reply
IPO Mentor IPO Mentor (900+ Posts, 5200+ Likes)
GoAir, the country's fourth largest airline by market share, is looking to raise close to Rs 5,000 crore through its initial public offer (IPO). Sources close to the matter claim that the airline is looking to dilute around 25% or more for the same. The airline has appointed Morgan Stanley, JM Financial, ICICI Securities and Citi as lead bankers for its public issue.
Aniketiaf
105.1. Aniketiaf  Sep 14, 2019 22:29 I Like It. 6 | Report Abuse
IPO Mentor IPO Mentor (900+ Posts, 5200+ Likes)
aiming for a listing in February/March 2020.
Rajni
104. Rajni  Sep 13, 2019 22:27 I Like It. 3 | Report Abuse Reply
@ Admin can we have page for IRCTC IPO? It's coming in Navratri.
jajo
103. jajo  Aug 20, 2019 12:20 I Like It. 11 | Report Abuse Reply
The latest IPOs of Spandana Spoorthi & S&W spoiled the revival sentiments of primary market by fixing prices very high. The company managements and Lead mangers ignored the reality of secondary market where bluest of blue chips are available at tempting prices. Greed has no limits!
Kick
103.4. Kick  Aug 23, 2019 11:29 I Like It. | Report Abuse
As said.. already down by ~20% waiting for little more
BKT
103.5. BKT  Sep 5, 2019 13:33 I Like It. | Report Abuse
SPANDAN SPOORTY price is gradually incrasing and it has well surpassed its IPO PRICE .But SWSOLAR is speedily decrasing. I am afraid it will be zero in a few days.
BKT
102. BKT  Sep 5, 2019 13:26 I Like It. 1 | Report Abuse Reply
Do not trust the companies of Shapoorji Pallonji.. You will turn to RAGS from RICHES if invest in these companies .Glaring example is just listed company STERLING AND WILSON SOLAR LTD .
Debanjan Maiti
101. Debanjan Maiti  Sep 5, 2019 12:54 I Like It. 1 | Report Abuse Reply
What is your thoughts whether to hold or sell....The performance of this fund is similar to yes bank.It is decreasing every day...
rvr
100. rvr  Sep 4, 2019 17:59 I Like It. | Report Abuse Reply
IPO Mentor IPO Mentor (600+ Posts, 600+ Likes)
SETHANDA SEKARU" is the condition whoever bought this company share
Athar
100.1. Athar  Sep 4, 2019 20:40 I Like It. | Report Abuse
Greedy promoter
Lukkas Raju
99. Lukkas Raju  Aug 21, 2019 19:23 I Like It. 3 | Report Abuse Reply
issue mehnga tha wo abhi pata chala. loko ko ipo bharne ke liye reason bi acche mil jate hai. ye bahot subscribe nahi hua kisi ke pass maal nahi hai. ye to bhaage ga. Kya yaar.
Lukkas Raju
98. Lukkas Raju  Aug 21, 2019 19:22 I Like It. 2 | Report Abuse Reply
Shapoorji ho ya pallonji apna dimah hamse chalu rakhe. yuhi apna paisa waste na kare, Festivals me kuch kharcha karne ke liye baki rakhe.
Arjunsinh Solanki
97. Arjunsinh Solanki  Aug 6, 2019 22:44 I Like It. | Report Abuse Reply
WHO IS Shapoorji Pallonji?
Mr. Singh
97.1. Mr. Singh  Aug 7, 2019 00:14 I Like It. 10 | Report Abuse
They are very respected person. So kept ji with their name
amit K singh
97.2. amit K singh  Aug 21, 2019 16:03 I Like It. 6 | Report Abuse
It's one of the easy way to fool the public.
KING VINOD
96. KING VINOD  Aug 20, 2019 10:03 I Like It. 3 | Report Abuse Reply
IPO Guru IPO Guru (1100+ Posts, 2200+ Likes)
Opening at 706 compare to issue price at 780
opening down 74 down almost 10% down
amit K singh
96.1. amit K singh  Aug 21, 2019 09:44 I Like It. 3 | Report Abuse
We also removed Palonji from our favorite promotors list !!
Hiteshji
95. Hiteshji  Aug 20, 2019 19:42 I Like It. | Report Abuse Reply
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
As earlier I told you, too much value.
Instead of buy good quality stock
at attractive price from secondary
Market. Stay away from costly IPO.
Maria
94. Maria  Aug 20, 2019 15:29 I Like It. 8 | Report Abuse Reply
As you know the Promoters of this company and they are very well known people,what the meaning of it for the public?
They are here just cheating the common public.
Kick
93. Kick  Aug 7, 2019 09:57 I Like It. 6 | Report Abuse Reply
Stay Away from This IPO... Save your harden money... Build portfolio from open market using same money
Lukkas Raju
93.2. Lukkas Raju  Aug 19, 2019 19:50 I Like It. | Report Abuse
what price it can be bought?
Kick
93.3. Kick  Aug 20, 2019 14:11 I Like It. | Report Abuse
As earlier stated..issue is available at lower price...

@Wait for few more days...it will be come down
BABUKALIA
92. BABUKALIA  Aug 19, 2019 21:41 I Like It. 1 | Report Abuse Reply
15/20 RS MINUS LISTING
kenil
92.1. kenil  Aug 20, 2019 09:55 I Like It. 9 | Report Abuse
RATAN TATA REMOVE CYRUS MISTRY... BECAUSE OF ETHICAL MATTERS IN TATA SONS... HOW THEY CAN GIVE TO PUBLIC SOME LISTING GAIN IN ITS OWN COMPANY....?
Nikit
91. Nikit  Aug 20, 2019 09:42 I Like It. 1 | Report Abuse Reply
Probable listing @ 680/-
Market first
90. Market first  Aug 19, 2019 20:13 I Like It. 5 | Report Abuse Reply
Aniketiaf,
Your view about listing...
Please give suggestion to allotted person like me.
Lukkas Raju
89. Lukkas Raju  Aug 19, 2019 20:00 I Like It. 1 | Report Abuse Reply
expert please post listing expecation and what to do.
Lukkas Raju
88. Lukkas Raju  Aug 19, 2019 19:55 I Like It. 1 | Report Abuse Reply
This message has been removed by a moderator.
Lukkas Raju
88.1. Lukkas Raju  Aug 19, 2019 19:59 I Like It. 3 | Report Abuse
ye list me se 80% cancel hi honge sure. ese market me keval sher ka kaam hai aur ye sab shares hai



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