The decision to sell a 30% stake in the solar engineering wing of Sterling & Wilson is expected to raise $$417 million for its parent company, The Shapoorji Pallonji Group. The conglomerate will offer a pre-listing stake sale followed by an initial public offering (IPO) to process the deal, through which it aims to reduce its overall debt. The company is already said to be in talks with a number of overseas multilateral agencies and sovereign funds concerning the sale, with pre-IPO placements expected to be finalised within six months.
The decision to sell a 30% stake in the solar engineering wing of Sterling & Wilson is expected to raise $1bn for its parent company, The Shapoorji Pallonji Group. The conglomerate will offer a pre-listing stake sale followed by an initial public offering (IPO) to process the deal, through which it aims to reduce its overall debt. The company is already said to be in talks with a number of overseas multilateral agencies and sovereign funds concerning the sale, with pre-IPO placements expected to be finalised within six months.