Moneycontrol Be a Pro
Get App
you are here: HomeNewsBusinessIPO
Last Updated : Aug 20, 2019 06:24 PM IST | Source: Moneycontrol.com

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.

Moneycontrol News @moneycontrolcom
Representative Image
Representative Image
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

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.

Close

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.

The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Aug 20, 2019 05:33 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant