Business Standard

Sterling & Wilson, Spandana slash IPO size amid choppy market conditions

To hit the market next week, Sterling & Wilson and Spandana have cut their issue size by a third

IPOs
Premium

Samie Modak
Shapoorji Pallonji Group company Sterling & Wilson Solar and microfinance company Spandana Sphoorty Financial Services have cut the size of their initial public offering (IPO) by a third to realign with market conditions, said sources in the know.

To hit the market next week, the two IPOs will raise a cumulative Rs 4,300 crore, down from nearly Rs 6,000 crore planned earlier.

The IPO of Sterling & Wilson Solar, a solar power engineering, procurement, and construction company, is entirely an offer for sale (OFS). The issue size has been cut from Rs 4,500 crore to Rs 3,150 crore.

Meanwhile, Spandana

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in