Shapoorji Pallonji Group, the promoter of Sterling Wilson Solar, is exploring several options, including making Eureka Forbes public or selling stake in its engineering firm Forbes & Company to pay back the inter-company loans the group had taken from the solar company, sources said.

The promoters of Sterling Wilson Solar currently owe the company Rs 2,341 crore, which includes a principal amount of Rs 2,085 crore and interest of Rs 256 crore, said a recent regulatory filing by the company.

On August 20, when it was listed on the exchanges, the dues stood at Rs 2,563 crore.

According to sources close to Sterling Wilson and its promoters, the construction major Shapoorji Pallonji is considering ways to raise fund and pay back the loans. The promoters currently hold 77.22 per cent stake in the company, as per BSE data.

As per the promoters of Sterling Wilson Solar they have not been able to pay back the dues because of the deteriorating credit market along with lesser than expected realisation from its initial public offering (IPO).

In a regulatory filing last week, the company had said that its promoters had requested its board of directors to consider a revised repayment schedule for the balance outstanding amount which was reduced to Rs 2,341 crore.