Sterling and Wilson Solar Limited’s $400 Million Initial Public Offering Of Equity Shares

Sidley Austin advised the lead managers on the operation.

Sidley acted as U.S. counsel to lead managers, ICICI Securities Limited, Axis Capital Limited, Credit Suisse Securities (India) Private Limited, Deutsche Equities India Private Limited, IIFL Securities Limited, SBI Capital Markets Limited, Induslnd Bank Limited and Yes Securities (India) Limited, in connection with the US$400 million initial public offering of equity shares of Sterling and Wilson Solar Limited pursuant to Section 4(a) and Regulation S of the U.S. Securities Act of 1933. This the first IPO from the Shapoorji Pallonji Group, which is one of the oldest business groups in India with over 150 years of operating history.

Sterling & Wilson Solar Ltd engages in diesel generations, mechanical, electrical, and plumbing (MEP), hybrid and energy storage, swcogen, transmission and distribution, and data centers services.

The multi-office Sidley team was comprised of partners Manoj Bhargava (Singapore,Picture), Ankit Kashyap (Singapore) and Nicholas R. Brown (New York), associates Varun Jetly (Singapore), Gmeleen Tomboc (Singapore) and Christian D. Molander-Barraza (New York) and staff lawyer Ravina Mahajan (Singapore).

Involved fees earner: Manoj Bhargava – Sidley Austin LLP; Nicholas Brown – Sidley Austin LLP; Varun Jetly – Sidley Austin LLP; Ankit Kashyap – Sidley Austin LLP; Christian Molander-Barraza – Sidley Austin LLP; Gmeleen Tomboc – Sidley Austin LLP;

Law Firms: Sidley Austin LLP;

Clients: Axis Capital Holdings Ltd.; Credit Suisse Securities (India) Private Limited; Deutsche Equities India Private Limited; ICICI Securities Ltd.; IIFL Securities Ltd; Indusind Bank; SBI Capital Markets Ltd.; Yes Securities;

Author: Michael Patrini