Sterling IPO
Sterling and Wilson Solar Ltd IPO

Sterling Solar Ltd IPO (Sterling and Wilson IPO)

Sterling & Wilson Solar Limited provides solar engineering, procurement and construction solutions. Based in Mumbai, Sterling & Wilson was incorporated in 2017 and is currently focused on utility-scale solar power projects and their management from conceptualizing to commissioning. ...Currently, the company has its business spread across 26 countries. The company also provides operations and maintenance services for 3rd party projects. According to IHS Markit, based on annual installations of utility-scale photovoltaic systems, in 2018 Sterling & Wilson Solar Limited, was the world's largest solar engineering, procurement and construction solutions provider. Sterling & Wilson Solar Limited is promoterd by Shapoorji Pallonji and Company Pvt Ltd and Khurshed Yazdi Daruvala. read more

Sterling IPO Profile
Issue Open Date August, 06 2019
Issue Close Date August 08, 2019
Issue Size (Rs cr) 40,322,580 Equity Shares of Rs.10 (aggregating up to Rs.3,145.16 Cr)
Issue Price Rs.775 to Rs.780 Per Equity Share
Listing on BSE, NSE
Issue Type Book Built Issue IPO
Issue Lot Size 19
Minimum Lots 1
Maximum Lots 13
Retail Discount -
Employee Discount -
QIB atleast 75% Equity Share
NII atleast 15% Equity Share
EMP upto - Equity Share
RII atleast 10% Equity Share
Book Value -
Face Value Rs.1 Per Equity Share
Share Holding Patern

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IPO Over / Undersubcription
Date Issue Price Issue Size (Rs Cr) QIB NII RII EMP Total
Aug 8, 2019 775 - 780 Rs.645.12 Cr 1.02x 0.89x 0.30x - 0.85x
Sterling IPO Registerar and Lead Managers
Link Intime India Private Ltd
Link Intime India Private Ltd C 101, 247 Park, L.B.S.Marg, Vikhroli (West), Mumbai - 400083
  • - Axis Capital Limited
  • - Credit Suisse Securities (India) Private Limited
  • - Deutsche Equities India Private Limited
  • - ICICI Securities Limited
  • - IIFL Holdings Limited
  • - IndusInd Bank Limited
  • - SBI Capital Markets Limited
  • - Yes Securities (India) Limited
Company Services
  • Electromagnetic Contracting

    The Company is in the business of electromagnetic contracting for the last 3 generations as a ShapoorJi and Pallonji Group. However, in 2011 they saw a big opportunity in Solar business and they entered into it. They commenced operations in 2011 as the Solar EPC Division of SWPL and demerged from SWPL with effect from April 1, 2017, so that Solar as a separate business gets more value. Over a span of seven years, they became the largest solar EPC solutions provider in each of India, Africa, and the Middle East according to IHS Markit in 2018 and currently have a presence across 26 countries.

  • Solar Engineering

    They provide end-to-end solar engineering, procurement, and construction (“EPC”) solutions provider, and were the world’s largest solar EPC solutions provider in 2018 based on annual installations of utility-scale photovoltaic (“PV”) systems of more than five-megawatt peak (“MWp”), according to IHS Markit.

  • EPC Services

    They provide EPC services primarily for utility-scale solar power projects with a focus on project design and engineering and manage all aspects of project execution from conceptualizing to commissioning. They also provide operations and maintenance (“O&M”) services, including for projects constructed by third-parties.


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