 "The fund-raising exercise has become urgent as the Mistry family entities failed to repay part of their debt to SWSL, which was due in June")
The billionaire Mistry family is in talks with several investors to raise up to Rs 4,000 crore by selling part of its stake in Sterling and Wilson Solar (SWSL), and also with Canadian financial powerhouse, Brookfield, to raise debt against its Tata Sons shares.
The proceeds of the funds raised will be used to reduce the group’s debt and repay dues to SWSL, said a source close to the development. The group was earlier planning to raise funds by selling its land parcels across India, but due to the Covid-19 pandemic, the land sale plan has been postponed till valuations
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