Sterling and Wilson Solar Limited’s 400 Million Initial Public Offering


Khaitan & Co advised Sterling and Wilson Solar Limited and Promoter Selling Shareholders (Shapoorji Pallonji and Company Private Limited and Khurshed Yazdi Daruvala) in relation to its initial public offering.

Sterling and Wilson Solar Limited executed its initial public offering of 36,533,820 equity shares of face value of Rs. 1 each for cash, aggregating to Rs. 28,496.38 million, consisting of an offer for sale of 24,355,880 Equity Shares aggregating to Rs. 18,997.59 million, by Shapoorji Pallonji and Company Private Limited and an offer for sale of 12,177,940 Equity Shares aggregating to Rs. 9,498.79 million, by Khurshed Yazdi Daruvala.

ICICI Securities Limited, Axis Capital Limited, Credit Suisse Securities (India) Private Limited, Deutsche Equities India Private Limited, IIFL Securities Limited, and SBI Capital Markets Limited as the Global Co-ordinators and Book Running Lead Managers

IndusInd Bank Limited and YES Securities (India) Limited as the Book Running Lead Managers.

Khaitan & Co advised Sterling and Wilson Solar Limited, Shapoorji Pallonji and Company Private Limited and Khurshed Yazdi Daruvala with a team including Abhimanyu Bhattacharya (Picture), Aditya George Cheriyan, Navodita Gupta, Vijayaraghavan and Drishti Barar.

Involved fees earner: Abhimanyu Bhattacharya – Khaitan & Co.; Aditya Cheriyan – Khaitan & Co.;

Law Firms: Khaitan & Co.;

Clients: Shapoorji Pallonji & Co Pvt Ltd; Sterling and Wilson Solar Limited;