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Sterling & Wilson IPO is a book build issue of ₹2,849.64 crores. The issue is entirely an offer for sale of 3.65 crore shares of ₹2,849.64 crore.
Sterling & Wilson IPO bidding started from Aug 6, 2019 and ended on Aug 8, 2019. The allotment for Sterling & Wilson IPO was finalized on Aug 14, 2019. The shares got listed on BSE, NSE on Aug 20, 2019.
Sterling & Wilson IPO price band is set at ₹780.00 per share . The lot size for an application is 19. The minimum amount of investment required by an retail is ₹14,725 (19 shares). The lot size investment for sNII is 14 lots (266 shares), amounting to ₹2,07,480, and for bNII, it is 68 lots (1,292 shares), amounting to ₹10,07,760.
Axis Capital Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Sterling & Wilson IPO RHP for detailed Information.
| IPO Date | August 6, 2019 to August 8, 2019 |
| Listing Date | August 20, 2019 |
| Face Value | ₹1 per share |
| Issue Price Band | ₹775 to ₹780 per share |
| Issue Price Final | ₹780 per share |
| Lot Size | 19 Shares |
| Sale Type | Offer For Sale |
| Total Issue Size | 3,65,33,820 shares (aggregating up to ₹2,849.64 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 16,03,60,000 shares |
| Share Holding Post Issue | 16,03,60,000 shares |
Sterling and Wilson IPO offers total 3,69,35,157 shares. Out of which 3,03,61,119 (82.20%) allocated to QIB, 1,23,32,273 (33.39%) allocated to QIB, 54,05,747 (14.64%) allocated to NII, 11,68,291 (3.16%) allocated to RII and 1,80,28,846 (48.81%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 3,03,61,119 (82.20%) | NA |
| − Anchor Investor Shares Offered | 1,80,28,846 (48.81%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 1,23,32,273 (33.39%) | NA |
| NII (HNI) Shares Offered | 54,05,747 (14.64%) | NA |
| Retail Shares Offered | 11,68,291 (3.16%) | 61,489 |
| Total Shares Offered | 3,69,35,157 (100.00%) |
Sterling & Wilson IPO opens on August 6, 2019, and closes on August 8, 2019.
| IPO Open Date | Tue, Aug 6, 2019 |
| IPO Close Date | Thu, Aug 8, 2019 |
| Tentative Allotment | Wed, Aug 14, 2019 |
| Initiation of Refunds | Fri, Aug 16, 2019 |
| Credit of Shares to Demat | Mon, Aug 19, 2019 |
| Tentative Listing Date | Tue, Aug 20, 2019 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Aug 8, 2019 |
Investors can bid for a minimum of 19 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 19 | ₹14,820 |
| Retail (Max) | 13 | 247 | ₹1,92,660 |
| S-HNI (Min) | 14 | 266 | ₹2,07,480 |
| S-HNI (Max) | 67 | 1,273 | ₹9,92,940 |
| B-HNI (Min) | 68 | 1,292 | ₹10,07,760 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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.
| 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 | |
[Dilip Davda] As the solar power sector is set for a boom globally and India is also gearing for spending in a big way, SWSL (being the largest solar EPC solution provider) is poised for bright prospects going forward. According to DRHP, SWSL originally planned 25% equity dilution for Rs. 4500 cr. (at a valuation of Rs. 18000 cr.), but now diluting the same stake for Rs. 3125 cr. (at a valuation of Rs. 12500 cr). As the issue appears fully priced in the given market status, investors may consider investment for the long term. Read detail review...
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
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.
| Listing Date | August 20, 2019 |
| BSE Script Code | 542760 |
| NSE Symbol | SWSOLAR |
| ISIN | INE00M201021 |
| Final Issue Price | ₹780 per share |
| BSE Listing Group | B |
Sterling & Wilson Solar Ltd.
9th Floor
Universal Majestic, P L Lokhande Marg,
Chembur (West), Mumbai 400 043
Chembur, Maharashtra
Phone: +91 22 2548 5300
Email: ir@sterlingwilson.com
Website: https://sterlingandwilson.com/
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: sterlingwilson.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Lead Manager Reports
Sterling & Wilson IPO is a main-board IPO of 3,65,33,820 equity shares of the face value of ₹1 aggregating up to ₹2,849.64 Crores. The issue is priced at ₹780 per share. The minimum order quantity is 19.
The IPO opens on August 6, 2019, and closes on August 8, 2019.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Sterling & Wilson IPO using UPI as a payment gateway. Zerodha customers can apply in Sterling & Wilson IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Sterling & Wilson IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Sterling & Wilson IPO opens on August 6, 2019 and closes on August 8, 2019.
Sterling & Wilson IPO lot size is 19, and the minimum amount required for application is ₹14,820.
You can apply in Sterling & Wilson IPO online using either UPI or ASBA as a 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 applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Sterling & Wilson IPO will be done on Wednesday, August 14, 2019, and the allotted shares will be credited to your demat account by Monday, August 19, 2019. Check the Sterling & Wilson IPO allotment status.
The Sterling & Wilson IPO listing date is on Tuesday, August 20, 2019.
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