Sterling & Wilson board approves Rs 1,500 crore fundraise

Sterling & Wilson Renewable Energy has announced plans to raise Rs 1,500 crore through debt or equity. The company is considering an equity share sale to repay debt maturing this fiscal year, with a scheduled principal repayment of Rs 1,200 crore between September 2023 and March 2024. Shapoorji Pallonji and Company holds an 18.5% stake in the firm, while a Reliance Industries-linked entity owns 40% equity.

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