Left Menu
Development News Edition

Sterling and Wilson Solar raises Rs 1,406 crore from anchor investors

PTI | New Delhi | Updated: 05-08-2019 20:39 IST | Created: 05-08-2019 20:39 IST
Sterling and Wilson Solar raises Rs 1,406 crore from anchor investors

Initial public offering (IPO)-bound Sterling and Wilson Solar Ltd on Monday said it has raised Rs 1,406 crore from 27 anchor investors by allotting 1,80,28,846 equity shares at the upper band price of Rs 780 ahead of its initial issue that opens on August 6. Among the 27 anchor investors, leading investors include Nomura India Investment Fund, Schroder International, and Abu Dhabi Investment Authority who have been allocated 16 per cent, 12.24 per cent and 8.82 per cent, respectively, of the total anchor book size, the firm said in a statement.

On August 1, Sterling said it will hit the bourses with its IPO to raise around Rs 3,125 crore on August 6. The issue, which will close on August 8, comprises an offer for sale by promoters Shapoorji Pallonji and the company aggregating up to Rs 2,083.33 crore and Khurshed Yazdi Daruvala totalling Rs 1,041.67 crore.

Price band for the offer has been fixed at Rs 775-780 per share, according to a statement by the company . The portion of the net proceeds will be utilised towards funding full repayment of the loans, the firm said.

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 the BSE and the NSE.



Post-COVID-19 Nigeria needs a robust Health Management Information System to handle high disease burden

Nigeria is among a few countries that conceptualised a health management information system HMIS in the early 90s but implementation has been a challenge till date. Besides COVID-19, the country has a huge burden of communicable and non-com...

Morocco COVID-19 response: A fragile health system and the deteriorating situation

Learning from its European neighbors, Morocco imposed drastic measures from the initial stages of the COVID-19 outbreak to try to contain its spread. The strategy worked for a few months but the cases have surged after mid-June. In this sit...

COVID-19: Argentina’s health system inefficiencies exaggerate flaws of health information system

You can recover from a drop in the GDP, but you cant recover from death, was the straightforward mindset of Argentinas President Alberto Fernndez and defined the countrys response to COVID-19. The South American nation imposed a strict...

Rwanda’s COVID-19 response commendable but health information system needs improvement

Rwanda is consistently working to improve its health information system from many years. However, it is primarily dependent on the collection and reporting of health data on a monthly basis. Besides, evaluation studies on Rwandas HIS publis...


Latest News

Without Buttler, defeating CSK will be difficult for Rajasthan Royals, says Brad Hogg

Former Australian spin wizard Brad Hogg feels that Rajasthan Royals will miss Englands star batsman Jos Buttler in their opening game of Indian Premier League IPL on Tuesday. Buttler wasnt part of the bubble that was created for the players...

UN experts, activists seek probe of Philippines drug war killings

U.N. rights experts and activists called on Tuesday for launching an international investigation into unlawful killings in the so-called war on drugs in the Philippines and for the International Criminal Court to step up its preliminary pro...

Bhiwandi building collapse incident: Death toll rises to 21

Twenty-one people have died so far in the building collapse incident in Bhiwandi here, according to Thane Municipal Corporation. The three-story building collapsed around 340 am on Monday in the Patel compound area in the Thane district.Soo...

WBTC introduces online recharge of smart cards

The West Bengal Transport Corporation WBTC has launched online recharge of smart cards for travelling in its buses, trams and ferries, its managing director Rajanvir Singh Kapur said here on Tuesday. More than 30,000 people are using smart ...

Give Feedback