Shapoorji Pallonji Group, the promoter of Sterling Wilson Solar, is exploring several options, including making Eureka Forbes public or selling stake in its engineering firm Forbes & Company to pay back the inter-company loans the group had taken from the solar company, sources said.
The promoters of Sterling Wilson Solar currently owe the company Rs 2,341 crore, which includes a principal amount of Rs 2,085 crore and interest of Rs 256 crore, said a recent regulatory filing by the company. On August 20, when it was listed on the exchanges, the dues stood at Rs 2,563 crore.
According to sources close to Sterling Wilson and its promoters, the construction major Shapoorji Pallonji is considering ways to raise fund and pay back the loans. Read more
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