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

SEBI has given its approval to Sterling and Wilson Solar Limited to float its proposed initial public offering, which is estimated to raise about Rs 45 billion. The shares of Sterling and Wilson Solar Limited are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange. The company had filed its draft red herring prospectus for the initial public offering with SEBI on April 15, 2019. The prospectus stated that the company plans to offer equity shares of a face value of 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 and SBI Capital Markets Limited will be the global coordinators for this initial public offering. Apart from this, IndusInd Bank Limited and YES Securities (India) Limited are the bookrunning lead managers to the issue.

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