The total issue size was Rs 3,125 crore, of which around Rs 1,400 crore was raised from anchor investors. The price band for the issue was Rs 775 and Rs 780 per share. At the top end, the company is valued at Rs 12,500 crore.
As per reports, SWSL reported a 44.4 per cent compound annual growth rate (CAGR) rise in consolidated operating revenue over FY16-19 to Rs 8,240.41 crore in FY19. Revenue was primarily aided by 43.9 per cent CAGR rise in the business from EPC contracts. EBITDA (earnings before interest, tax, depreciation and amortisation) grew at a CAGR of 50.4 per cent during the same period while Reported PAT increased by 72.1 per cent CAGR.
Most brokerages had assigned 'subscribe' rating to the issue.
SWSL is likely to benefit from the fact that is the the largest global EPC contractor in an industry that is seeing a massive thrust towards renewable energy, Motilal Oswal Financial Services (MOFSL) had said in an IPO note. Other factors that seem favourable are its asset-light business model, and strong parentage. "However, considering the current market environment and absence of past comparable financials, investors can Subscribe only from a Long Term perspective," the brokerage had written.