The funds would be raised through issuance of bonds/ debentures/ non-convertible debt instruments/ equity shares/ any other securities including through preferential issue on a private placement basis, qualified institutions placement, rights issue or any other methods or combination thereof.

Sterling and Wilson Renewable Energy is one of the largest non-original equipment manufacturers and solar EPC player globally with a diversified presence across geographies.

The company's consolidated net loss narrowed to Rs 95.47 crore in Q1 FY24 from a net loss of Rs 353.91 crore reported in Q1 FY23. Net sales tumbled 57.3% year on year to Rs 514.96 crore during the quarter.

Shares of Sterling and Wilson Renewable Energy rose 0.42% to Rs 360 on the BSE.