The company's board authorized and declared the opening of the issue on Tuesday, 11 December 2023.

The floor price of Rs 365.02 is at a discount of 13.66% to the previous day's closing price of Rs 422.75 on the BSE.

The company may offer a discount of not more than 5% on the floor price so calculated for the issue.

The firm said that the issue price will be determined by the company in consultation with the book running lead managers appointed for the Issue.

SW Solar has also informed that a meeting of the securities committee is scheduled to be held on Thursday, 14 December 2023 to consider and approve the issue price of the equity shares.

Sterling and Wilson Renewable Energy is one of the largest non-original equipment manufacturers and solar EPC player globally with a diversified presence across geographies.

The company consolidated net loss narrowed to Rs 54.24 crore in Q2 FY24 as against Rs 296.95 crore recorded in Q2 FY23. Net sales soared 142.9% to Rs 759.52 crore in Q2 FY24 as against Rs 312.69 crore recorded in Q2 FY23.