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

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Jul 31 2019 | 7:48 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com