Shapoorji Pallonji hires ICICI Securities for IPO of solar business

Shapoorji Pallonji Group has hired ICICI Securities Ltd to take its solar engineering, procurement and construction (EPC) business public, two people aware of the matter said. The solar EPC business is housed under the group’s flagship company, Sterling and Wilson. Mint reported in July that the group was considering an initial public offering (IPO) of the business.