Sterling & Wilson Solar ends 7% below IPO price on listing day
Mumbai: Solar engineering solutions provider Sterling & Wilson Solar made a weak debut on the bourses with the stock ending at Rs 725.35, about 7 per cent below its issue price on Tuesday. The stock listed at Rs 700 on the BSENSE 2.35 %, a discount of 10 per cent to the issue price of Rs 780.
The stock hit a low of Rs 691 and a high of 755.50 during the day. Analysts said the tepid response to the IPO was largely due to the weak market conditions of late.
The issue, which was open for subscription between August 6 and 8, was subscribed 85 per cent excluding the anchor portion.
