Sterling and Wilson Solar receives SEBI’s approval for its IPO

The Securities and Exchange Board of India (SEBI) has given its approval to Sterling and Wilson Solar Limited (SWSL) to float its proposed initial public offering that is estimated to raise about Rs 45 billion.

The shares of Sterling and Wilson Solar are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange. Sterling and Wilson Solar, had filed its draft red herring prospectus for the IPO with SEBI on April 15, 2019.

The prospectus stated that the company plans to offer equity shares of face value Re 1 with a total aggregate of Rs 45 billion. ICICI Securities Limited, Axis Capital Limited, Credit Suisse Securities (India) Private Limited, Deutsche Equities India Private Limited, IIFL Holdings Limited, SBI Capital Markets Limited will be the global coordinators for this IPO. Apart from this, IndusInd Bank Limited and YES Securities (India) Limited are the book running lead managers to the issue.

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