Sterling and Wilson Solar gets SEBI approval to float IPO

The shares of Sterling and Wilson are proposed to be listed on BSE and NSE.

Jul 09, 2019 11:07 IST India Infoline News Service

Initial Public Offer, IPO
Sterling and Wilson Solar Ltd (SWSL), a global pure-play, end-to-end Solar EPC solutions provider, has received approval from the Securities and Exchange Board of India (SEBI) to float an initial public offering.

The capital markets regulator issued its final observations on SWSL’s IPO proposal on July 4, 2019, according to information on the SEBI website.

SWSL had filed its draft red herring prospectus for the IPO with SEBI on April 15, 2019, this year.

Sebi's observations are necessary for any company to launch public issues like the initial public offer, follow-on public offer (FPO) and right issue.

The total IPO size is about Rs4,500cr. The IPO will be an offer for sale by company’s chairman Khurshed Yazdi Daruvala and Shapoorji Pallonji and Company Private Limited (Together, the Promoter Selling Shareholders)

ICICI Securities Limited, Axis Capital Limited, Credit Suisse Securities (India) Private Limited, Deutsche Equities India Private Limited, IIFL Holdings Limited, SBI Capital Markets Limited are the global coordinator and book running lead managers and IndusInd Bank Limited YES Securities (India) Limited are the book running lead manager to the issue.

The shares of Sterling and Wilson are proposed to be listed on BSE and NSE.

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