Sterling & Wilson Renewable Energy Board Authorises Proposal to Fund INR 1500 Crore
The firm plans to secure additional capital for its business expansion and RE projects.
September 29, 2023. By Anurima Mondal
Sterling and Wilson Renewable Energy Ltd. (SWREL) is thinking about selling equity shares to pay off debt maturing this fiscal year. Principal repayment of INR 1200 crore has been scheduled by the company between September 2023 and March 2024. Out of which, about INR 770 crore is expected to be paid between September-October 2023.
Earlier this year, the Company has secured two projects worth INR 470 crore in Rajasthan and Uttar Pradesh. Meanwhile, it has also bagged a 600 MW order from Gujarat Industrial Power Company.
In a notice to exchange, Sterling & Wilson Renewable Energy further informed that the board of the company has approved the issuance of equity shares, global depository receipts, depository receipts, foreign currency convertible bonds, fully or partially convertible debentures, non-convertible debentures, or any other financial instruments convertible into equity shares.
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