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 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

India Solar Compass Q2 2019   

Q2 was again a slow quarter for the solar sector with new capacity addition coming in at only 1,104 MW, down 55% over previous quarter and 28% below o...

Buy Report Download Executive Summary

India Solar Map | June 2019

Indian utility scale solar capacity reached 26,154 MW as on 31 March 2019. Capacity addition fell to 4,810 MW in FY 2019, down a steep 47% over previo...

Download

India Solar Rooftop Map | June 2019

India is estimated to have added a record 1,836 MW of rooftop solar capacity in FY 2019. Rooftop solar continues to grow rapidly registering a growth ...

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