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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

IPO Opening Date Aug 6, 2019
IPO Closing Date Aug 8, 2019
Issue Type Book Built Issue IPO
Face Value ₹1 per equity share
IPO Price ₹775 to ₹780 per equity share
Market Lot 19 Shares
Min Order Quantity 19 Shares
Listing At BSE, NSE
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)

Sterling and Wilson IPO Tentative Timetable

The Sterling and Wilson IPO open date is Aug 6, 2019, and the close date is Aug 8, 2019. The issue may list on Aug 20, 2019.

IPO Open Date Aug 6, 2019
IPO Close Date Aug 8, 2019
Basis of Allotment Date Aug 14, 2019
Initiation of Refunds Aug 16, 2019
Credit of Shares to Demat Account Aug 19, 2019
IPO Listing Date Aug 20, 2019

Sterling and Wilson IPO Lot Size

The Sterling and Wilson IPO market lot size is 19 shares. A retail-individual investor can apply for up to 13 lots (247 shares or ₹192,660).

Application Lots Shares Amount (Cut-off)
Minimum 1 19 ₹14,820
Maximum 13 247 ₹192,660

Sterling and Wilson IPO Promoter Holding

Pre Issue Share Holding 100%
Post Issue Share Holding 75%

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)

The Sterling and Wilson IPO is subscribed 0.85 times on Aug 8, 2019 17:00. The public issue subscribed 0.30 in the retail category, 1.02 in the QIB category, and 0.89 in the NII category. Check Day by Day Subscription Details (Live Status)

CategorySubscription (times)
QIB

1.02

NII

0.89

RII

0.30

Total

0.85

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 Date Tuesday, August 20, 2019
BSE Script Code 542760
NSE Symbol SWSOLAR
Listing In B Group of Securities
ISIN INE00M201021
IPO Price ₹780 per equity share
Face Value ₹1 per equity share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
BSE
₹780.00
₹700.00
₹691.00
₹755.50
₹725.35
NSE
₹780.00
₹706.00
₹690.10
₹753.45
₹726.20

Company Contact Information

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
Website: https://sterlingandwilson.com/

Sterling and Wilson IPO Registrar

Link Intime India Private Ltd

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

Sterling and Wilson IPO FAQs

Sterling and Wilson IPO is a main-board IPO of 40,322,580 equity shares of the face value of ₹1 aggregating up to ₹3,145.16 Crores. The issue is priced at ₹775 to ₹780 per equity share. The minimum order quantity is 19 Shares.

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.

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

Sterling and Wilson IPO lot size is 19 Shares and the minimum order quantity is 19 Shares.

You can apply in Sterling and Wilson IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

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.

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

Sterling and Wilson IPO Message Board

Ranked Members  Ranked Members

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107. ???? IPO Janadesh ???? |Sep 13, 2019 22:22
IPO Guru IPO Guru (1000+ Posts, 2500+ 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.
107.2. ???? IPO Janadesh ???? |Sep 16, 2019 15:18
IPO Guru IPO Guru (1000+ Posts, 2500+ Likes)
Equitas touch Lower Circuit after declaration of IPO process by March 2020.
107.3. ???? IPO Janadesh ???? |Sep 20, 2019 11:54
IPO Guru IPO Guru (1000+ Posts, 2500+ Likes)
Nifty
crossed
11200 (+ 500 )
benchmark.

Hopefully
half
of
the
dozen
IPOs
enter
the
market.
106. MS ASSOCIATE |Sep 13, 2019 15:44
upcoming IPO in Sep ???
106.2. amit K singh |Sep 15, 2019 12:24
IPO Mentor IPO Mentor (700+ Posts, 1300+ Likes)
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..
106.3. ???? IPO Janadesh ???? |Sep 16, 2019 15:16
IPO Guru IPO Guru (1000+ Posts, 2500+ 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.
105. Aniketiaf |Sep 14, 2019 22:15
IPO Guru IPO Guru (1500+ Posts, 9100+ 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.
105.1. Aniketiaf |Sep 14, 2019 22:29
IPO Guru IPO Guru (1500+ Posts, 9100+ Likes)
aiming for a listing in February/March 2020.
104. Rajni |Sep 13, 2019 22:27
@ Admin can we have page for IRCTC IPO? It's coming in Navratri.
103. BKT |Sep 5, 2019 13:26
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 .
102. Debanjan Maiti |Sep 5, 2019 12:54
What is your thoughts whether to hold or sell....The performance of this fund is similar to yes bank.It is decreasing every day...
101. rvr |Sep 4, 2019 17:59
SETHANDA SEKARU" is the condition whoever bought this company share
101.1. Athar |Sep 4, 2019 20:40
Greedy promoter
100. jajo |Aug 20, 2019 12:20
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!
100.4. Kick |Aug 23, 2019 11:29
As said.. already down by ~20% waiting for little more
100.5. BKT |Sep 5, 2019 13:33
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.
99. Lukkas Raju |Aug 21, 2019 19:23
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.
98. Lukkas Raju |Aug 21, 2019 19:22
Shapoorji ho ya pallonji apna dimah hamse chalu rakhe. yuhi apna paisa waste na kare, Festivals me kuch kharcha karne ke liye baki rakhe.
97. KING VINOD |Aug 20, 2019 10:03
IPO Guru IPO Guru (1400+ Posts, 3000+ Likes)
Opening at 706 compare to issue price at 780
opening down 74 down almost 10% down
97.1. amit K singh |Aug 21, 2019 09:44
IPO Mentor IPO Mentor (700+ Posts, 1300+ Likes)
We also removed Palonji from our favorite promotors list !!
96. Hiteshji |Aug 20, 2019 19:42
Top Contributor Top Contributor (400+ 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.
95. Maria |Aug 20, 2019 15:29
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.
94. BABUKALIA |Aug 19, 2019 21:41
15/20 RS MINUS LISTING
94.1. kenil |Aug 20, 2019 09:55
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....?
93. Nikit |Aug 20, 2019 09:42
Probable listing @ 680/-
92. Market first |Aug 19, 2019 20:13
Aniketiaf,
Your view about listing...
Please give suggestion to allotted person like me.
91. Lukkas Raju |Aug 19, 2019 20:00
expert please post listing expecation and what to do.
90. Lukkas Raju |Aug 19, 2019 19:55
This message has been removed by a moderator.
90.1. Lukkas Raju |Aug 19, 2019 19:59
ye list me se 80% cancel hi honge sure. ese market me keval sher ka kaam hai aur ye sab shares hai
89. Lukkas Raju |Aug 19, 2019 19:56
Looking at affle india and spandana listing if this goes down dont touch it this will not bounce back for sure
88. Jaspreet Singh Oberoi |Aug 16, 2019 10:59
Money debited. Not sure if I should be sad or happy or both now.

Fingers and legs crossed.
88.3. Fakhri |Aug 16, 2019 13:40
since i was in a meeting at the core time i forgot to reduce my application and got many shares now, fingers crossed that this shows atleast little profit.
88.4. Lukkas Raju |Aug 19, 2019 19:49
tomorrow will decide whether you will be happy or sad