Pleased to announce the closure of QIP transaction of INR 15,000 mn for Sterling and Wilson Renewable Energy Limited

Qualified Institutional Placement

Service

December 2023

Date

Infrastructure

Sector

INR 15,000 MN

Deal Value

Pleased to announce the closure of QIP transaction of INR 15,000 mn for Sterling and Wilson Renewable Energy Limited

Deal Details

  • Sterling & Wilson successfully closed its maiden QIP that will aid the Company to raise growth capital on the back of repayment of borrowings as it aims to pursue opportunities in the fast-growing solar EPC markets in India and abroad

Contribution

  • Nuvama worked as a resilient partner with the Company to generate investor confidence in the Sterling & Wilson story amidst the recent challenges faced by the Company
  • Nuvama on the back of it’s strong understanding of the space helped showcase the long term global New Energy opportunity and position Sterling & Wilson as its key beneficiary
  • With this QIP, Nuvama has successfully closed the 3rd transaction* w.r.t Sterling & Wilson in last 2 years being the “Banker of Choice”
  • As the left-lead banker, provided end to end hand-holding to the Company including resolving multiple complications given operations in various geographies and ensuring timely launch
  • Nuvama drove early momentum in the Issue and garnered participation from a diverse investor set including pertinent ESG focused funds, Marquee ‘Long Only’ FIIs, Mutual Funds and Domestic Institutional Investors garnering ~50% of QIP demand in terms of amount in a 2 bank syndicate