Sterling and Wilson Solar Limited IPO
(i) The Company is in the business of electromagnetic contracting for the last 3 generations as a ShapoorJi and Pallonji Group. However, in 2011 they saw a big opportunity in Solar business and they entered into it. They commenced operations in 2011 as the Solar EPC Division of SWPL and demerged from SWPL with effect from April 1, 2017, so that Solar as a separate business gets more value.
Over a span of seven years, they became the largest solar EPC solutions provider in each of India, Africa, and the Middle East according to IHS Markit in 2018 and currently have a presence across 26 countries.
(ii) They provide end-to-end solar engineering, procurement, and construction (“EPC”) solutions provider, and were 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”), according to IHS Markit.
(iii) They provide EPC services primarily for utility-scale solar power projects with a focus on project design and engineering and manage all aspects of project execution from conceptualizing to commissioning. They also provide operations and maintenance (“O&M”) services, including for projects constructed by third-parties.
(iv) As of March 31, 2019, they had 205 commissioned and contracted solar power projects with an aggregate capacity of 6,870.12 MWp.
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.
In Fiscals 2018 and 2019, their Revenue from operations outside India accounted for 59.11% and 69.82% of the total revenue from operations, respectively
Interaction with Management
Objects of the Sterling and Wilson Solar Limited IPO:
Sterling and Wilson Solar Limited IPO Details:
|Open Date:||Aug 06 2019|
|Close Date:||Aug 08 2019|
|Face Value:||₹ 1 Per Equity Share|
|Issue Type:||Book Building|
|Lot Size:||19 Shares|
|Issue Price:||₹ 775-780 Per Equity Share|
|Listing Date:||Aug 20 2019|
Promoters And Management:
Financials of Sterling and Wilson Solar Limited IPO: