SEBI must force Sterling & Wilson Solar promoters to provide exit offer to IPO investors: InGovern

Proxy advisory firm InGovern Research Services has said that market regulator Securities and Exchange Board of India must force the promoters of Sterling and Wilson Solar (SWS) to provide an exit offer to investors who had subscribed to the company’s Initial Public Offering. That is because the promoters have not repaid the loans of the company, as promised in the prospectus, for which funds were raised through the public issue.