Shapoorji Pallonji group's Sterling and Wilson files for Rs 4,500-crore IPO

Shapoorji Pallonji Company holds 65.77% stake in the company

Shapoorji Pallonji group’s Sterling and Wilson Solar has filed for an initial public offering (IPO) of up to Rs 4,500 crore, which would be an offer for sale (OFS). The company filed its draft prospectus on Tuesday.

“This offer comprises an OFS by the promoter-selling shareholders. The net proceeds from the offer will be paid directly to the promoter-selling shareholders,” the company said in its prospectus. Shapoorji Pallonji Comp­a­n­y and Khurshed Yazdi Daruvala are the promoter- selling shareholders.

Daruvala holds 33.33 per cent stake in the firm, while Shapoorji Pallonji Company holds 65.77 per cent stake in the company. The offer document