Sterling and Wilson Solar Limited (SWSL) is engaged in providing solar engineering, procurement, and construction (EPC) solutions to end-users. This is mainly a Mumbai-based company. In this post, we will be discussing Sterling and Wilson Solar IPO Review along with price, DRHP.
Sterling and Wilson Solar Issue Details :
- IPO Opens on – August 6, 2019
- IPO Closes on – August 8, 2019
- Face Value – Rs. 10 Per Equity Share.
- Issue Price – Rs. 775 – Rs. 780 Per Equity Share.
- Issue Type – Book Built Issue IPO.
- Market Lot – 19 Shares.
- Minimum Order Quantity – 19 Shares.
- Issue Size – 40,322,580 Eq Shares of Rs 1 (aggregating up to Rs 3,125.00 Cr).
- Listing Exchange – BSE, NSE.
- Draft Prospectus – Download
Objectives of the issue of the Company :
- Sterling and Wilson Solar Limited is achieving the benefits of listing the Equity Shares on the Stock Exchanges.
- For the Offer of the Equity Shares by the Promoter Selling Shareholders of this company.
- To enhance visibility and brand image of Sterling and Wilson Solar Limited.
About The Company –
- Firstly, Sterling and Wilson Solar Limited was incorporated in 2017.
- Secondly, this company is mainly focused on utility-scale solar power projects and manages solar projects from conceptualizing to commissioning.
- Thirdly the most important point is that, Sterling and Wilson Solar Limited provides operations and maintenance (O&M) services for the 3rd party projects as well.
- This company was previously named as Rashmika Energy Private Limited.
- Sterling and Wilson Solar Limited started its operation as a Solar EPC Division of SWPL in 2011. It then demerged on April 1, 2017.
- According to IHS Markit, this company was the world’s largest solar EPC solutions provider in 2018. This data is based on annual installations of utility-scale PV systems.
- Sterling and Wilson Solar Limited has a wide presence across 26 countries.
- This company offers customized solutions to its customers for solar power projects.
- Sterling and Wilson Solar Limited follows a “hub-and-spoke” business model. So the services go from the central hub to several spokes or routes to reach the end-users.
- India works as a hub of this company for the complete supply chain including engineering functions, design, and engage 3rd party subcontractors and suppliers.
- Sterling and Wilson Solar Limited aims to improve the performance ratio by offering cost-effective and innovative designing solutions supported by an engineering and competent design team.
- Meanwhile, this company has 138 employees in the design and engineering team.
Qualitative Factors of the Company
- The largest global EPC solutions provider based on annual installations of utility-scale PV systems of more than five MWp in 2018 according to IHS Markit.
- Comprehensive end-to-end EPC solutions provider with a global execution track record.
- Dedicated design and engineering team focused on innovation and developing efficient and cost-effective engineering solutions.
- A strong relationship with customers and other key stakeholders.
- Also, benefit from the brand reputation, industry relationships and project management expertise of the SP group and the Sterling and Wilson group.
- Above all, experienced strong growth and financial performance backed by an asset-light business model.
Sterling and Wilson Pvt. Ltd.
Universal Majestic, 9th Floor
P. L. Lokhande Marg, Chembur (West)
Mumbai – 400043, Maharashtra, India
Phone – +91 222 548 5300
Fax – +91 222 548 5331
Email – [email protected]
The promoter of Sterling and Wilson Solar :
- The Promoter of this company is Shapoorji Pallonji and Company Private Limited.
- In addition, Khurshed Yazdi Daruvala, aged 50 years, is one of the Promoters, Chairman, Non-Executive and Non-Independent Director of this Company.
The Board of Directors of this company :
- Firstly, Khurshed Yazdi Daruvala is the Chairman and a Non-Executive Non-Independent Director of this Company.
- Secondly, Pallon Shapoorji Mistry is a Non-Executive Non-Independent Director of this Company.
- Thirdly, Bikesh Ogra is a Non-Executive Non-Independent Director of our Company and global CEO.
- Fourthly, Keki Manchersha Elavia is an Independent Director of our Company.
- In addition, Arif Saleh Doctor is an Independent Director of our Company.
- Similarly, Rukhshana Jina Mistry is an Independent Director of our Company.
Business strategies of this company :
- Maintain market leadership through strategic expansion of overseas operations
- Grow their customer base and maintain relationships with other key stakeholders
- Focus on increasing operational and financial efficiency
- Above all, focus on expanding O&M, rooftop solar EPC, and solar storage solutions
Company Financials :
Sterling and Wilson Solar IPO Review
The above details contain a financial statement. For instance, it shows the company has a moderately good financial record. Now, we will check the company draft red herring prospectus of the company to get the company fundamentals. Its Earnings per share(EPS) stand at the level of 29.97 as per FY18. It doesn’t reflect PE (price to earnings ratio) of the company. RoNW (Return on Net Worth) and NAV/Share are 47% and 45.30% respectively. These are as per the news of FY18. So, Sterling and Wilson Solar IPO Review carry a NEUTRAL view for long-term investors.
However, another valid point is the Grey market premium which helps to analyze IPOs. Therefore, one must wait until the IPO issue price is announced prior to taking an important investment decision. For instance, the specific Ipo’s GMP is 10-15. It indicates the grey market is also not betting aggressively for the IPO. Similarly, you may go through the Grey Market Premium details from our site. Its Kosak rate is 200 according to the updated information.
Therefore, besides the above-listed information, from the issue opening date, you can alternatively check the NSE bid details. In conclusion, if you want, you can also go through our past article for getting a step-by-step guide on how to apply in a new issue.