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Sterling and Wilson Solar gets Sebi approval to float Rs 4,500-cr IPO

Sterling and Wilson Solar Ltd (SWSL) has received approval from markets regulator Sebi to float its Rs 4,500-crore initial public offering.

The capital markets regulator issued its final observations on SWSL’s IPO proposal on July 4, according to information available on Sebi’s website.
               The total size of the initial public offering (IPO) is about Rs 4,500 crore.

The IPO will be an offer-for-sale by the company’s Chairman Khurshed Yazdi Daruvala, and Shapoorji Pallonji and Company, the promoter selling shareholders.
               The shares of Sterling and Wilson are proposed to be listed on BSE and NSE.

The company’s order book was Rs 4,309.09 crore as of December 31, 2018.