Mumbai: Shares of solar power EPC company Sterling & Wilson Solar are likely to list at a discount of Rs 15- Rs 20 to its
issue price of Rs 780 per share at its
market debut on Tuesday, said market sources, citing grey market trends.
Analysts said the stock could list at a discount given the weak market conditions of late. On Monday,
microfinance lender Spandana Sphoorty listed at a near 4 per cent discount to its issue price. “It is likely to list at a discount. It is not a buy before Rs 625- Rs 650 levels," said Geetanjali Kedia, senior research analyst at SPTulsian-.com.
The Rs 3,125-crore IPO of Sterling & Wilson Solar was open between August 6 and August 8. The company had set a price band of Rs 775-780 per share. Investors subscribed to 85 per cent, or 1.9 crore shares, of the issue size of 2.2 crore shares, excluding the anchor placement, due to weak sentiment and rich
valuations. Including the anchor portion, the issue was subscribed 92 per cent.