Shares of Sterling and Wilson Solar Limited made a weak debut on stock exchanges. Sterling and Wilson Solar’s share price opened at Rs 706 on the National Stock Exchange, down 9.48% from its issue price of Rs 780. On the BSE, Sterling and Wilson’s share price declined as much as 11.4% to Rs. 691 from its issue price. Sterling and Wilson Solar Limited’s three-day initial public offer (IPO) opened for subscription on August 6.
Sterling and Wilson Solar sold equity shares in the price band of Rs 775-780. The initial public offer of Sterling & Wilson Solar was subscribed 92% on the final day and raised around Rs 2,900 crore.
Sterling and Wilson Solar Ltd. (SWSL) was the world’s largest solar EPC solutions provider in 2018 based on annual installations of utility-scale photovoltaic systems of more than five mega-watt peak, brokerage HDFC Securities said in a note.