Shapoorji Pallonji Group’s first IPO looks to raise Rs 4,500 crore

Mumbai: The 150-years-old privately held conglomerate, Shapoorji Pallonji Group, is planning to make its first initial public offering with a Rs 4,500 crore issue of arm Sterling & Wilson Solar. The IPO may hit the capital market by the third quarter of FY20. The $8.1 billion Shapoorji Pallonji Group, which has run most of its businesses privately, is exploring various ways to unlock value and deleverage balance sheet, as it faces rising cost pressures and sluggish sales volumes. The IPO of Sterling & Wilson Solar, the group’s solar power engineering,…

ipo: Antony Waste plans Rs 350 crore IPO in June

Mumbai: Antony Waste Handling Cell, which processes almost half the garbage generated by Mumbai, will tap the capital market in June with Rs 350-crore initial public offer, which will make it the first municipal solid waste management company to be listed on the bourses in the country. The IPO will include offer for sale by its private equity investor Elliott Management Corp, the world’s largest activist hedge fund, which had first invested in the company almost a decade ago. A small part of the issue — around Rs 43 crore…