Sterling & Wilson successfully completes its IPO


12 August 2019 |

Sterling & Wilson Solar (S&W) has become a rare success story in the Indian renewable energy sector by becoming the first company in many years to successfully complete an IPO. The share sale was structured as an offer for sale by the company’s promoters; the company itself has not raised any money from the IPO. The promoters have raised INR 28.8 billion (USD 411 million) against their final target of INR 31.3 billion, revised downwards from the original target of INR 45.0 billion: INR 14.8 billion was raised from the IPO itself and another INR 14.0 billion was raised through private placement with anchor investors including Nomura, Schroder, Fidelity, ADIA, HSBC Global, Neptune, MIT, ICICI Prudential and Reliance Mutual Fund. The company had to incrementally scale down the IPO and reduce its price expectations in wake of a slowing economy and recent volatility in the stock markets.


This is a PREMIUM blog available only to our paid subscribers, please login for full access. For buying a subscription to PREMIUM blogs, please write to us at marketing@bridgetoindia.com


Recent reports

India Solar Rooftop Map | September 2019

India added a record 1,853 MW rooftop solar capacity in the twelve-month period ending Sep-2019. Capacity addition was ...

Download

Global Corporate Renewable Power Procurement Models

Commercial & Industrial (C&I) consumers in India are increasingly looking to procure renewable energy for financi...

Download

India Solar Compass Q3 2019   

Slow capacity addition in the utility scale solar sector continued in Q3 2019. Capacity addition during the quarter was 1,734 MW, 43% below our estima...

Buy Report Download Executive Summary

India Solar Rooftop Market Analytics   

This report presents trends and observations from over 16,000 rooftop solar installations with an aggregate capacity of 2,265 MW in our database. It p...

Buy Report Download Executive Summary

Forecasting and Scheduling Regulations   

India’s central electricity regulator, the Central Electricity Regulatory Commission (CERC), issued an amendment to the Deviation Settlement Mechani...

Buy Report Download Executive Summary

India RE Map | September 2019

India added 9,327 MW of utility scale wind and solar capacity in the last 12 months. Total installed RE capacity is estimated at 66,650 MW as on 30 Se...

Download
Award winnig research
We use cookies to offer you an optimal user experience and collect information on website usage.