Sterling & Wilson Solar IPO Registers 9 Percent Subscription on its 1st Day of Bidding

The category for qualified institutional buyers (QIBs) was subscribed 6 percent, non-institutional investors 19 percent and retail individual investors 6 percent. Its price range has been fixed at Rs 775-780 per share. The issue will close on August 8

August 07, 2019. By News Bureau

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Sterling & Wilson Solar has announced that its IPO was subscribed 9 percent on the first day of bidding on August 6, 2019.

The IPO through which the company strategies to raise about Rs 3,125 crore acknowledged bids for 21,06,264 shares in contrast to the total issue size of 2,21,77,418 shares, as per NSE data.

The category for qualified institutional buyers (QIBs) was subscribed 6 percent, non-institutional investors 19 percent and retail individual investors 6 percent. Its price range has been fixed at Rs 775-780 per share. The issue will close on August 8.

The offer comprises an offer for sale by promoters Shapoorji Pallonji and the company totaling up to Rs 2,083.33 crore and Khurshed Yazdi Daruvala tallying Rs 1,041.67 crore.

ICICI Securities, Axis Capital, Credit Suisse Securities India, Deutsche Equities India, IIFL Securities, SBI Capital Markets, IndusInd Bank and YES Securities India are managing the offer.

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