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Last Updated : Aug 20, 2019 06:24 PM IST | Source:

Subdued listing: Sterling and Wilson Solar ends with 7% loss at Rs 725.35

Sterling traded with volume of 3.09 lakh shares on the BSE and 45.99 lakh shares on the NSE.

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Shares of Sterling and Wilson Solar, a solar engineering solutions provider, fell sharply on August 20, the first day of trading on bourses. The fall was on expected lines given the muted response to issue from investors and prevailing weak market conditions.

The stock closed at Rs 725.35 on the BSE, falling 7.01 percent against issue price of Rs 780, but rising 3.62 percent compared to the opening price of Rs 700.

It opened at 10 percent discount to IPO price and touched an intraday high/low of Rs 755.50/691.


On the NSE, the stock fell 6.9 percent to close at Rs 726.20 after hitting a day's high of Rs 753.45 and low of Rs 690.10. It had opened at Rs 706.

Sterling traded with a volume of 3.09 lakh shares on the BSE and 45.99 lakh shares on the NSE.

The Rs 3,125-crore issue had opened for subscription during August 6-8 and was subscribed 92 percent.

The issue had comprised an offer for sale by promoters Shapoorji Pallonji (Rs 2,083.33 crore) and Khurshed Yazdi Daruvala (Rs 1,041.67 crore).

The promoters will utilise a portion of their issue proceeds towards full repayment of the loans.

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First Published on Aug 20, 2019 05:33 pm
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