Promoters repay all loans due to Sterling and Wilson Solar Limited

The Board of Directors of Sterling and Wilson Solar Limited had earlier granted extension to the Promoters upto September 30, 2021 to facilitate funding for the repayment of the Outstanding Loans.

The Company had also announced that the Outstanding Loans as at on April 8, 2021 stood at Rs. ~ 790 Crore. Further the Outstanding Loans had reduced to Rs. ~ 741 Crore on August 14, 2021.

The Promoters, i.e. Shapoorji Pallonji and Company Private Limited and Mr. Khurshed Daruvala have facilitated the repayment of the balance Outstanding Loans along with further interest accrued till date, by Sterling and Wilson Private Limited and its subsidiary Sterling and Wilson International FZE to the Company and its subsidiary Sterling and Wilson International Solar FZCO respectively. With this, the entire Outstanding Loans of Rs. 2,563 Crore as on the date of listing of Company's equity shares on the Stock Exchanges along with all further interest accrued till date stands repaid in full.

Shares of Sterling and Wilson Solar Limited was last trading in BSE at Rs. 414.75 as compared to the previous close of Rs. 387.7. The total number of shares traded during the day was 703069 in over 13754 trades.

The stock hit an intraday high of Rs. 426.35 and intraday low of 381.5. The net turnover during the day was Rs. 284279778.

Source : Equity Bulls

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