Sterling and Wilson Solar Limited which had tapped the capital markets with its offer for sale for Rs 3,125 crs was closed having received bids for 0.85% of the issue post anchor allocation.

The company had earlier completed allocation to anchor investors. The company allotted 1,80,28,846 equity shares to 21 anchor investors comprising of 27 entities. The price band of the issue is Rs 775-780.

The highest allocation was made to Nomura India Investment Fund Mother Fund who was allotted 28.84 lakh shares or 16% of the anchor book. This was followed by Reliance Capital Trustee Co Ltd who was allotted 25.64 lac shares or 14.22% in three funds. Indian funds were allotted 20.27% of the anchor book while Foreign funds were allotted 79.73% of the anchor book.

The issue was open from Tuesday the 6th of August till Thursday the 8th of August.

The QIB portion was subscribed 1.02 times, HNI portion 0.89 times and Retail portion 0.30 times. There were 40,161 applications received.

This being an offer for sale with 75% allocation to QIB’s, the issue needed to receive 100% subscription from Anchor Investors. The company had earlier allotted 1,80,28,846 to anchor investors and now received bids for 1,23,32,273 shares from QIB investors. This made a total of 3,03,61,119 shares which was 75.78% of the QIB book and this portion was fully subscribed.

Adding the retail and HNI portion the total subscription was 3,69,61,681 which was 92.25% of the issue size of Rs 3,125 crs. Having fulfilled the 75% QIB portion which was fully subscribed, the issue is treated as subscribed.