STERLING AND WILSON SOLAR IPO is engaged in providing solar engineering, procurement and construction (EPC) solutions to the end-users and is all set to make a debut in the stock market with an issue size of 3145.16 Cr.
STERLING AND WILSON SOLAR IPO – Overview
| STERLING AND WILSON SOLAR IPO Issue Date | 6-8 Aug 2019 |
| STERLING AND WILSON SOLAR IPO Opening Date | 6 Aug 2019 |
| STERLING AND WILSON SOLAR IPO Face Value | INR 1 per share |
| STERLING AND WILSON SOLAR LTD IPO Price | INR 780 per share |
| STERLING AND WILSON SOLAR LTD IPO Lot Size | 19 Shares |
| Issue Size | 3145.16 Cr |
| Offer for sale | 3,125.00 Cr |
| Issue Type | Book built Issue IPO |
| Listing At | BSE, NSE |
| QIB Shares Offered | 1.02 times |
| NII (HNI) Shares | 0.89 times |
| Company Promoters | The promoters of the Company are Shapoorji Pallonji and Company Pvt Ltd and Khurshed Yazdi Daruvala. |
STERLING AND WILSON SOLAR IPO -Tentative Dates
| STERLING AND WILSON SOLAR IPO opening date | 30 Aug 2019 |
| STERLING AND WILSON SOLAR IPO closing date | 4 Aug 2019 |
| Basis of Allotment | 11 Aug 2019 |
| Initiation of Refunds | 14 Aug 2019 |
| The credit of Shares to Demat | 15 Aug 2019 |
| STERLING AND WILSON SOLAR IPO Listing Date | 20 Aug 2019 |
STERLING AND WILSON SOLAR IPO- Industry Overview.
The cumulative annual solar PV installations in India, Southeast Asia, the Middle East & North Africa, the rest of Africa, Europe, the United States, Latin America, and Australia increased from 64 GW in three years from 2013 to 2015 to 120 GW over 2016 to 2018 representing an 87.7% increase. This is likely to increase by 232 GW in three years from 2019 to 2021 representing a further 92.9% increase. The figure below depicts the cumulative three-year growth in solar PV generation capacity annual additions in India, Southeast Asia, the Middle East & North Africa, the rest of Africa, Europe, the United States, Latin America, and Australia.
Company Overview
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 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.
Objectives Of The Issue
- To achieve the benefits of listing Equity Shares on the Stock Exchanges.
- For the Offer of Equity Shares by the Promoter Selling Shareholders.
- To enhance visibility and brand image.
Financial Statements
| Particulars | 31-Mar-19 | 31-Mar-18 | 31-Mar-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 |
Strengths
- World’s largest solar EPC solutions provider.
- A dedicated design and engineering team.
- Takes benefits of the brand image of the SP group and S&W.
- Strong financial performance.
- Strong promoter.
Weakness
- 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 average cost of acquisition per Equity Share for the promoter selling shareholders is nil per equity share.
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: https://linkintime.co.in/
