Home IPO Sterling & Wilson Solar IPO: Sterling & Wilson Solar IPO subscribed 32% on Day 2

Sterling & Wilson Solar IPO: Sterling & Wilson Solar IPO subscribed 32% on Day 2

by TradingETFs.com
Mumbai: The Initial public offering (IPO) by Sterling & Wilson Solar got subscribed 32 per cent on the second day of the offer on Wednesday.

The portion reserved for qualified institutional buyers (QIBs) was subscribed 0.20 times, quota reserved for non-institutional buyers was subscribed up to 0.69 times, while that reserve for retail investors was filled in 0.16 times

The issue, which will close on August 8, comprises 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.

The company on Monday said it has raised Rs 1,406 crore from 18 anchor investors by allotting 1,80,28,846 equity shares at the upper band price of Rs 780.

Among the anchors, 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.

Net proceeds from the public offer will be utilised towards funding full repayment of the loans

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.

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