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Sterling and Wilson Solar Ltd will hit the bourses with its initial public offer (IPO) to raise around Rs 3,125 crore on August 6, 2019. Price band for the offer has been fixed at Rs 775-780 per share, according to a company statement. The issue which will close on August 8 comprises an offer for sale by promoters Shapoorji Pallonji and Company aggregating up to Rs 2,083.33 crore and Khurshed Yazdi Daruvala totalling Rs 1,041.67 crore, it added. The portion of the net proceeds will be utilised towards funding full repayment of the loans.
ICICI Securities, Axis Capital, Credit Suisse Securities India, Deutsche Equities India, IIFL Securities, SBI Capital Markets, IndusInd Bank and YES Securities India will manage the offer. Shares of Sterling and Wilson, a solar engineering, procurement and construction (EPC) solutions provider, are proposed to be listed on BSE and NSE