Sterling and Wilson Solar IPO: Business model, diverse operations key

Shapoorji Pallonji & Company holds a 66% stake in SWS while the rest is held by Khurshed Yazdi Daruvala

The timing of Sterling and Wilson Solar’s (SWS’) initial public offering (IPO) could raise some doubts as the power industry has little to cheer about — whether thermal or renewables. Yet, investors could look at the IPO, given some of its strengths especially in terms of operation. For one, much in sync with its promoter – Shapoorji Pallonji’s operating model — SWS is a pure-play EPC (engineering-procurement-construction) player operating in the solar power segment.

Shapoorji Pallonji & Company (SPC) holds a 66 per cent stake in SWS while the rest is held by Khurshed Yazdi Daruvala, promoter of the company. Both