Sterling and Wilson Solar to receive Rs 250 cr from promoters against outstanding loans

Sterling and Wilson Solar announced that the promoters Shapoorji Pallonji and Company and Khurshed Daruvala entered into a Share Purchase Agreement on 23 March 2021 with Adani Green Energy with respect to disposal of 100% shareholding held by Sterling and Wilson Private Limited (SWPL) in 2 SPVs. The enterprise valuation of the 2 SPVs is Rs 446 crore.

SWPL will receive net sale consideration of about Rs 250 crore and the entire amount of the net sale proceeds will be utilized towards repayment of part of the outstanding loans due to the Company

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