Sterling and Wilson IPO

Sterling and Wilson Solar Limited IPO

What does the company do?

Sterling & Wilson Solar is a global pure-play, end-to-end solar engineering, procurement, and construction (EPC) solutions provider, and was the world’s largest solar EPC solutions provider in 2018 based on annual installations of utility-scale photovoltaic (PV) systems of more than five-megawatt peak (MWp). The company commenced operations in 2011 as the Solar EPC Division of SWPL and currently has a presence across 26 countries. As of 31 December 2018, it had 183 commissioned and contracted solar power projects with an aggregate capacity of 6,062.83 MWp. 

Sterling & Wilson offers customized solutions to its customers for solar power projects. The company follows a “hub-and-spoke” business model where services go from the central hub to several spokes or routes to reach the end-users.The company aims to improve the performance ratio by offering cost-effective and innovative designing solutions supported by an engineering and competent design team.

The order book, which they define as the value of solar power projects for which they have entered into definitive EPC contracts minus the revenue already recognized from those projects, was 3831 Cr as of March 31, 2019.

Competitive Strength of the company is

  • World’s largest solar EPC solutions provider
  • A dedicated design and engineering team
  • Takes benefits of the brand image of the SP group and S&W
  • Strong financial performance
  • Strong promoter

An object of the Issue

  • To achieve the benefits of listing the Equity Shares on the Stock Exchanges.
  • For the Offer of the Equity Shares by the Promoter Selling Shareholders.
  • To enhance visibility and brand image.

Promoters of the Company

  • ShapoorjiPallonji and Company Private Limited
  • KhurshedYazdiDaruvala

Lead Manager of the Company

  • Axis Capital Limited
  • ICICI Securities Limited
  • IIFL Holdings Limited
  • IndusInd Bank Limited
  • Credit Suisse Securities (India) Private Limited
  • Deutsche Equities India Private Limited
  • Yes Securities (India) Limited
  • SBI Capital Markets Limited

Registrar of the Company

  • Link Intime India Private Limited

Company Financial Performance (in INR crore)

IPO Issue Details

  • Issue Type: Book Built Issue IPO
  • Issue Size: INR 3,125 Cr.
  • Fresh Issue: INR400crore
  • Total IPO Size: INR 3,125 Cr.
  • Offer for Sale: INR 3,125 Cr.
  • Face Value: INR 1 per share
  • Listing At: BSE, NSE

Allotment Process 

You can contact your share broker and ask them for your allotment.

Listing Performance

  • Finalization of Basis of Allotment: 14 August 2019
  • Initiation of refunds: 16 August 2019
  • Transfer of shares to Demat accounts: 19 August 2019
  • Listing Date: 20 August 2019

Valuations

  • Earnings Per Share (EPS): INR 39.85
  • Price/Earnings (PE ratio) :19.45 – 19.57
  • Return on Net Worth (RONW): 62%
  • Net Asset Value (NAV): INR 63.79 per share

                                                                                                                    Happy Investing!

                                                                       

 

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