Sterling & Wilson Solar IPO Subscribed 9 % on First Day

The initial public offer of Sterling & Wilson Solar Ltd was subscribed 9 percent on the first day of bidding on Tuesday. The IPO through which the company plans to raise about Rs 3,125 crore received bids for 21,06,264 shares against the total issue size of 2,21,77,418 shares, as per NSE data.

The category for qualified institutional buyers (QIBs) was subscribed 6 percent, non-institutional investors 19 percent and retail individual investors 6 percent.

Its price range has been fixed at Rs 775-780 per share.