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Last Updated : Aug 20, 2019 01:55 PM IST | Source: Moneycontrol.com

Weak Listing: Sterling and Wilson Solar debuts at discount; stock down 9%

On the BSE, the stock started off trade at Rs 700, down more than 10 percent against issue price.

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Sterling and Wilson Solar, a solar engineering solutions provider, had a weak debut on August 20 as the stock fell more than 9 percent in opening due to the tepid response to IPO and weak market conditions.

The stock listed at Rs 706 on the National Stock Exchange against issue price of Rs 780.

On the BSE, the stock started off trade at Rs 700, down more than 10 percent against issue price.

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The Rs 3,125-crore issue was subscribed 92 percent during August 6-8, 2019.

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 had said it would utilise a portion of issue proceeds towards funding full repayment of the loans.

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First Published on Aug 20, 2019 10:04 am
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