The promoters of Sterling and Wilson Solar (SWSL) are in talks with a clutch of investors to raise about Rs 740 crore to repay outstanding loans. The company intends to raise the funds through a combination of stake sale and debt.
As per earlier commitments, the solar engineering, procurement and construction (EPC) firm has to repay the loans by September 30, 2021.
“The talks are in advanced stages and the company is hopeful of tying up the funds before the deadline. The promoters are in discussions with a clutch of investors including high net worth individuals, private equity funds and large companies,” a source close to the development said.
