Sterling and Wilson Solar IPO – Dates, Allotment, Bid Details, Subscribe, Price & Size

In this article, we will discuss in details about the Sterling and Wilson Solar IPO dates, size, its allotment status, Sterling and Wilson Solar IPO subscription, grey market premium and its company’s financial status that will help you to conclude whether you should invest or subscribe for this IPO or not.

Open DateAug 6, 2019
Close DateAug 8, 2019
IPO Price BandRs 775 – Rs 780
Face ValueRs. 1
No. of Shares40,322,580
Share PriceRs 3,125.00 Crores
Share Premium
IPO SizeRs. 45,000 million

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Summary – Sterling and Wilson Solar Limited

Sterling and Wilson Solar IPOSterling and Wilson Solar Limited is an end-to-end solar engineering, procurement, and construction (“EPC”) solutions provider. They also provide a complete range of customized solutions for solar power projects. 

They also provide operations and maintenance (“O&M”) services, including for projects constructed by third-parties. Issue of Up to [●] Equity Shares, aggregating up to Rs. 45,000 million.

The Promoters of this company are Shapoorji Pallonji and Company Private Limited and Khurshed Yazdi Daruvala.

The lead managers to the issue are ICICI Securities Limited, Axis Capital Limited, Credit Suisse Securities (India) Private Limited, Deutsche Equities India Private Limited, IIFL Holdings Limited, SBI Capital Markets Limited, IndusInd Bank Limited, YES Securities (India) Limited, and the Registrar to this issue is Link Intime India Private Limited.


Sterling and Wilson Solar IPO Review

The financial performance and their total income have grown at a CAGR of 58.32% from Rs. 27,464.67 million in Fiscal 2016 to Rs. 68,844.20 million in Fiscal 2018, and to Rs. 60,817.60 million in the nine months ended December 31, 2018, from Rs. 32,414.50 million in the nine months ended December 31, 2017.

Its EBITDA increased from Rs. 1,958.57 million in Fiscal 2016 to Rs. 5,504.63 million in Fiscal 2018, and Rs. 4,768.49 million in the nine months ended December 31, 2018, from Rs. 2,218.03 million in the nine months ended December 31, 2017. The net worth of the company as on Dec 31, 2018, is  Rs. 7,265.09 million as per the Restated Ind AS Consolidated Summary Statement of Assets and Liabilities.

Its profit after tax has grown at a CAGR of 89.57% from a combined profit after tax of Rs. 1,253.63 million and Rs. 314.32 million in Fiscals 2016 and 2017, respectively, to a consolidated profit after tax of Rs. 4,505.35 120 million in Fiscal 2018, and Rs. 3,434.30 million in the nine months ended December 31, 2018, from Rs. 1,733.62 million in the nine months ended December 31, 2017.

In Fiscal 2018 and in the nine months ended December 31, 2018, their revenue from operations outside India accounted for 59.11% and 65.13% of their total revenue from operations, respectively.


Sterling and Wilson Solar IPO Date

The opening and the closing date of Sterling and Wilson Solar IPO is Aug 6, 2019 – Aug 8, 2019..


Sterling and Wilson Solar IPO Subscription

Day / DateQIBNIIRIITotal Subscription
1st Day – 6 Aug0.06x0.19x0.06x0.10x
2nd Day – 7 Aug0.19x0.68x0.15x0.32x
3rd Day – 8 Aug1.02x0.89x0.30x0.85x
Shares Offered or Net Issue12,096,7746,048,3874,032,25822,177,419

The shares subscribed by the public will be updated here.


Sterling and Wilson Solar IPO Allotment Status

Here, you can find the Allotment Status of this IPO.

Basis of Allotment Finalization14-Aug-19
Refunds Initiation16-Aug-19
Credit of Shares to Demat Account19-Aug-19
Share Listing Date20-Aug-19

Sterling and Wilson Solar IPO Grey Market Premium

The Sterling and Wilson Solar IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X. 


Sterling and Wilson Solar IPO Price

The face value of each share is Rs 1, but the price band of the IPO is Rs 775 – Rs 780. 


Sterling and Wilson Solar IPO Issue Size

40,322,580 Equity Shares of Rs 1, aggregating up to Rs 3,125.00 Crores


Sterling and Wilson Solar – Company Overview

Sterling and Wilson Solar Limited is an end-to-end solar EPC solutions provider. It provides EPC services primarily for utility-scale solar power projects with a focus on project design and engineering and manages all aspects of project execution from conceptualizing to commissioning. They also provide O&M services, including for projects constructed by third-parties.

They commenced operations in 2011 as the Solar EPC Division of SWPL and demerged from SWPL with effect from April 1, 2017. Over a span of seven years, they became the largest solar EPC solutions provider in each of India, Africa and the Middle East according to IHS Markit in 2018 and currently have a presence across 26 countries.

As of December 31, 2018. The company had 183 commissioned and contracted solar power projects with an aggregate capacity of 6,062.83 MWp.

They follow a “hub-and-spoke” business model where They manage the complete supply chain from India, including the design and engineering functions, and engage a few suppliers and third-party subcontractors and procure part of the raw materials for their operations locally in each of their markets, where there is a cost advantage or to comply with local regulations.

Currently, have a presence across 26 countries and as of December 31, 2018, they had 183 commissioned and contracted solar power projects with an aggregate capacity of 6,062.83 MWp.


Sterling and Wilson Solar – Company Financials

On the basis of Standalone statement:-

Amount (in INR & million) 
31-Dec-1931-Mar-1831-Dec-17
Total Assets53,919.1949,203.8135,701.70
Total Revenue82,404.0868,717.0832,324.81
Total Expense63,339.57 30,196.4756,049.11
Profit After Tax1,250.501,288.50751.20

Sterling and Wilson Solar IPO Lead Managers

Lead Managers
ICICI Securities Limited

Axis Capital Limited

Credit Suisse Securities (India) Private Limited

Deutsche Equities India Private Limited

IIFL Holdings Limited

SBI Capital Markets Limited

IndusInd Bank Limited

YES Securities (India) Limited

Sterling and Wilson Solar IPO Registrar to Offer

Registrar to the Offer
Link Intime India Private Limited
C-101, 1st Floor, 247 Park
L.B.S Marg, Vikhroli (West)
Mumbai 400 083
Telephone no.: +91 22 4918 6200
E-mail: sterlingwilson.ipo@linkintime.co.in
Investor grievance e-mail:
sterlingwilson.ipo@linkintime.co.in
Website: www.linkintime.co.in
Contact Person: Shanti Gopalkrishnan
SEBI Registration No.: INR000004058

Sterling and Wilson Solar IPO Conclusion

 


Sterling and Wilson Solar Financial IPO News

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