Shapoorji Pallonji Group company Sterling & Wilson Solar and microfinance company Spandana Sphoorty Financial Services have cut the size of their initial public offering (IPO) by a third to realign with market conditions, said sources in the know. To hit the market next week, the two IPOs will raise a cumulative Rs 4,300 crore, down from nearly Rs 6,000 crore planned earlier. The IPO of Sterling & Wilson Solar has been cut from Rs 4,500 crore to Rs 3,150 crore. Meanwhile, Spandana Sphoorty Financial Services has retained the fresh issue component of Rs 400 crore but cut the OFS component from Rs 1,200 crore to Rs 800 crore.

Publication: Business Standard

Date: August 1, 2019

Venture Capital (VC) funding is a key element in the growth of innovative technologies and solutions. Innovations by their nature carry large risks in their development and adoption and VC funding provides the risk capital that can bring them to market. This class of investors typically do not look towards nurturing a start-up and earning profits from its operations over its lifetime but rather look at how easily the investment can be exited at a profit. The range of investment time horizon is typical 3-7 years.

Publication: Entrepreneur

Date: July 30, 2019