Indian construction to real estate company Shapoorji Pallonji Group aims to sell a stake in its solar unit for around $1 billion as it embarks on a series of asset disposals.
Shapoorji Pallonji Group will sell nearly 30 percent in the solar engineering arm of Sterling & Wilson Pvt.
The funds will be raised through a pre-listing stake sale followed by a public offering.
Shapoorji Pallonji Group generates revenue of approximately $5 billion annually.