Sterling and Wilson Solar IPO: SWSL Review, Dates, Grey Market Price & Allotment

Sterling and Wilson Solar IPO, IPO Review, Dates, Price Bands and Market Lot

IPO stands for Initial public offering. In the year 2019, many companies made a stellar debut on a stock exchange

The exciting news for the investors is sterling and Wilson solar has received approval from the market regulator SEBI to float its Rs 3125 crore IPO.

ICICI Securities, Axis Capital, Credit Suisse Securities (India), Deutsche Equities India, IIFL Holdings and SBI Capital Markets are the global coordinators and book running lead managers to the issue.

Our today’s post is customized on sterling and Wilson IPO. The offer is likely to release at the end of July.

The Sterling and Wilson had filed its draft red hiring prospectus for the IPO with Sebi on April 15 this year.

Sebi observation is necessary for any company to launch public issue such as IPO, follow-on public offer (FPO) and rights issue.

The shares of sterling and Wilson are proposed to be listed on BSE and NSE.

The company’s order book was Rs 4,309.09 crore as of December 31, 2018

The promoter of the company is “Shapoorji Pallonji Group”.ICICI Securities, Axis Capital, Credit Suisse Securities (India), Deutsche Equities India, IIFL Holdings, SBI Capital Markets are the global coordinators and book running lead managers

Stay tuned in the end to learn about “Sterling and Wilson IPO details. So, without any further delay let’s get started

About Sterling and Wilson Company

STERLING-&-WILSON Solar IPOSterling and Wilson are one of the world’s substantial solar EPC companies proffering end to end solution.

The company proffer EPC services specifically to the utility-scale solar power projects with a major emphasis on project design and engineering and maintain all aspects of project execution from conceptualizing to commissioning. They also provide O&M services, including for projects constructed by third-parties.

The company commenced its operation in the year 2011 the solar Engineering, Procurement and Construction (EPC) division of Sterling and Wilson Private Limited (SWPL) and was demerged into a separate entity called Sterling and Wilson Solar Limited in April 2017.

The company has a presence across 26 countries. The company had 183 commissioned and contracted solar power projects with an aggregate capacity of 6,062.83 MWp.

The company also proffer a range of customized solution for solar power products. It also dispenses operation and maintenance service 0&M.

It leads the complete supply chain from India, including the design and engineering function and indulge a few suppliers and third-party subcontractors and produce 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.

The shares of the company are proposed to be listed on NSE and BSE.

Sterling and Wilson Solar IPO Offer Details or Issue Details

Issuer Sterling and Wilson Solar IPO (View Report)
Issue Type 100% Book Built Issue IPO
Issue Period Issue Opens: Aug 6, 2019
Issue Closes: Aug 8, 2019
Price Brand Rs.775* – Rs.780^ per Equity Share
Issue Size Rs.3125 Crores
Face Value Rs.1 per Equity Share
Bit Lot 19 Equity Shares and in multiples thereof
Maximum Bid amount for Retail Rs. 2 Lakhs
Institutional 75% of the issue size (Rs. 2343.75 CR)
Corporate 15% of the issue size (Rs. 468.75 CR)
Retail Individual Bidders 10% of the issue size (Rs. 312.50 CR)
Listing NSE & BSE
UPI All Retail Applications compulsorily in UPI Mode
Registrar Link Intime India Pvt Limited
Book Running Lead Managers ICICI Securities & SBI Capital
Grey Market Price SWSL IPO Grey Market Premium

Sterling and Wilson IPO Dates & Price Band

The face value of each share is Rs 10, but the price band of the IPO is not yet revealed

  • IPO Open: Aug 6 2019
  • IPO Close: Aug 8, 2019
  • IPO Size: Approx 3125-Crore
  • Face Value: 1
  • Price Band: 775 – 780
  • Listing on: BSE & NSE
  • Retail Portion:
  • Equity: No. Shares
  • Tips for Investing in SWSL IPO

Sterling & Wilson Solar IPO Market Lot

  • Shares: Apply for Shares (Minimum Lot Size)
  • Amount: ₹14,820—

Sterling & Wilson IPO Allotment & Listing

  • The basis of Allotment: 2019
  • Refunds: 2019
  • Credit to demat accounts: 2019
  • Listing: 2019

Sterling and Wilson IPO Subscription

Day / Date QIB NII RII Employee Total Subscription
1st Day – Apr 5 x x x x x
2nd Day – Apr 8 x x x x x
3rd Day – Apr 9
Shares Offered or Net Issue

The shares subscribed by the public will be updated here.

Sterling and Wilson IPO Allotment Status

Here, you can refer the table to know the allotment status of this IPO.

The basis of Allotment Finalization 2019
Refunds Initiation 2019
The credit of Shares to Demat Account 2019
Share Listing Date 2019
Sterling and Wilson Earnings Profile and Asset Quality

The investor is keen to know the earning profile and asset quality.

The global end-to-end solar EPC solutions provider reported a 98 percent growth in its net profit at Rs 343 crore in the first nine months of 2018-19, while revenue rose 83 percent to Rs 5,915 crore.

As of December 31, 2018, the company’s order book stood at Rs 4,309.09 crore, while it had 183 commissioned and contracted solar power projects with a total capacity of 6,062.83 megawatts (MW).

Sterling and Wilson Solar IPO Review & Ratings

IPO Ratings & Review
Criteria Ratings
Industry Sentiments 7.5/10
Industry Ranking 7.1/10
Company Background 7.3/10
Company Reputation 7.2/10
Competitive Edge 7.7/10
Financial Statements 7.1/10
Popularity Index 7.4/10
Promoters Reputation 7.7/10
Retail Appetite 7.1/10
Top Brokers Review 7.9/10
Overall Ratings 7.4/10
Star Ratings ★★★★☆

How to Apply for Sterling and Wilson solar IPO?

The investors can approach the brokers if they wish to apply for the Sterling and Wilson IPO.

If you hold a Demat account, you can apply for IPO via online mode.

Online method

You will need an online banking facility or the net banking facility attached to your bank account.

  1. Sign in to your bank account.
  2. In the menu on the left-hand side, you will see a request button, clicking which you will get the link as “IPO Application”.
  3. Select the IPO you want to apply for and place the bid. You can mention up to 3 bids.
  4. Fill your depository details and then place and confirm the order.

IPO Allotment Status

What is IPO Allotment?

IPO allotment is a procedure in which the registrar to the offer with the help of the lottery system finalizes the procedure of allocating the IPO shares to the individuals who have applied for the IPO subscription.

It is an uncomplicated allotment process that takes place within the 1-week n IPO release date for all Large-Cap IPOs. For SME IPOs it takes time only in few cases wherein the subscription is not met up to a particular threshold or for few other concern.

But in most of the cases, the allotment status is out within 1 week.

Sterling and IPO allotment status will be updated soon.

Sterling and Wilson Solar Limited – Financial Statements

On the basis of Standalone statement:-

Amount (in INR & million) 
31-Dec-18 31-Mar-18 31-Dec-17
Total Assets 49,203.81 35,701.70 47,873.29
Total Revenue 68,844.20 32,414.50 60,817.60
Total Expense 63,339.57  30,196.47 56,049.11
Profit After Tax 4,540.92  1,821.41 3,433.81

Earnings per Equity Share (in million)

31-Dec-18 31-Mar-18 31-Dec-17
Basic & Diluted 21.40 29.97 10.98

From the above statements, we can analyze that the Sterling and Wilson Solar Limited may perform competently.

Sterling and Wilson Solar IPO – Promoters

The Promoter of this company is:

  • Shapoorji Pallonji and Company Private Limited
  • Khurshed Yazdi Daruvala

List of Related Parties (Key Managerial Personnel)

The parties who hold the Key position

  • Bahadur Dastoor – CFO
  • Jagannadha Rao Ch. V – Compliance officer & CS

Sterling and Wilson Solar IPO – Basis of the Offer Price

Qualitative Factors

  • Complete end to end EPC solution provider with a global execution track record.
  • Powerful relationship with customers and another key shareholder
  • Deliberated design and engineering team focused on innovation and developing efficient and cost-effective engineering solutions.
  • Elite brand reputation and status quo

Sterling and Wilson Solar IPO Lead Managers

Lead Managers
  • ICICI Securities LimitedAxis 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
Investor grievance e-mail: Person: Shanti Gopalkrishnan
SEBI Registration No.: INR000004058

Sterling and Wilson Solar IPO Review by Top 10 Stock Brokers

Top Stock Brokers Review Company Reputation Competitive Edge Financial Statement Popularity Index Promoters Reputation
Angel Broking 7.5/10 7.4/10 8.5/10 8.1/10 7.1/10
Sharekhan 7.2/10 7.1/10 8.6/10 8.1/10 7.2/10
Kotak Securities 7.3/10 7.5/10 8.4/10 8.1/10 7.3/10
ICICI Direct 7.3/10 7.3/10 8.7/10 8.1/10 7.1/10
IIFL 7.5/10 7.2/10 8.8/10 8.0/10 7.1/10
Edelweiss 7.5/10 7.4/10 8.4/10 8.3/10 7.2/10
Zerodha 7.4/10 7.1/10 8.5/10 8.1/10 7.0/10
5Paisa 7.1/10 7.1/10 8.4/10 8.1/10 7.1/10
Karvy 7.4/10 7.3/10 8.2/10 8.1/10 7.1/10
Motilal Oswal 7.1/10 7.1/10 8.6/10 8.3/10 7.2/10

Sterling and Wilson Solar IPO Grey Market Premium

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

Final Words

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