Shapoorji Pallonji

December deadline: Shapoorji Pallonji faces $1.2 bn debt repayment with Tata Sons stake as collateral

The SP Group may find it challenging to raise funds for the repayment, complicating its efforts to sell its stake in Tata Sons, where it owns a little over 18%.

Truce talks between Tata Sons and Shapoorji Pallonji focused on financially viable exit options

Two options are being discussed though talks are yet to reach a conclusion

Shapoorji eyes $1 billion debt payment in possible Tata exit

Shapoorji is aiming to settle the outstanding Rs 8,810 crore in bonds that were issued by Goswami Infratech Pvt. and mature in April next year

Tata Trusts asks Tata Sons to try and stay private, provide an exit to SP group: Report

The move holds major significance as it was the first time the Trusts has given its opinion on the issue of RBI’s listing requirements and its desire to give the SP group an exit

Shapoorji Pallonji Group unit eyes $300 million shares-backed loan: Report

The company may look to raise the funds in Indian rupees, and the loan would be backed by shares of Afcons Infrastructure, along with some other real estate assets

SP Group hits a speed bump on Asia’s largest private credit deal

However, Sterling Investments, which holds a 9.18 percent stake in Tata Sons, has told the RBI that it will increase its capital adequacy ratio over time and may get the regulator’s nod in the coming weeks, sources told Moneycontrol.

Shapoorji Pallonji gets binding bids for biggest India private debt deal

The funds will be raised through local currency bonds with a three-year tenor and negotiations on the final coupon are ongoing

SP Group nears $3.2 billion refinancing deal with global credit funds

The refinancing will be led by global alternative asset investors Davidson Kempner and Cerberus Capital, with partial financing from Farallon Capital and ARES, which will roll over a part of their maturing debt. An agreement is expected to be signed in March

Afcons Infra shares partially recover after emerging lowest bidder for Rs 4,800 crore Pune road projects

The projects have been distributed under two packages- package PRR E5 worth Rs 2,718.50 crore and Package PRR E7 worth Rs 2,068.70 crore

Shapoorji Pallonji raises fundraising target to $3.25 billion to refinance debt

The fundraising is managed by Deutsche Bank and structured as a five-year facility comprising non-convertible debentures (NCDs) with an expected yield of about 18%.

Shapoorji gets bondholder nod to ease covenants, move to help loan refinancing against Tata Sons shares

The group has also received in-principle approval from stock exchanges for the changes to be made to the NCDs

Shapoorji Pallonji kicks off talks for IPO of real estate business

The proposed IPO of its real estate business follows the recent public debut of Afcons Infra and sale of other assets this year, which the group used to make substantial repayments on loans

SP Group asks NCD holders to waive off restrictive covenants to aid loan refinancing against Tata Sons shares

The request for the waiver also comes as the SP Group has faced delays in raising funds to refinance the loans availed by Sterling Investment Corp, which holds over 9 percent stake in Tata Sons.

Shapoorji Pallonji likely to pay bondholders by October-end; Afcons IPO to open next week

The SP Group in September got the bondholders' nod to move the deadline for interest payment of Rs 1,800 crore by three months to December 31

Noel Tata’s ascendancy boosts demand for SP Group bonds

The perceived possibility of improvement in ties between the Tata group and the SP Group has given a boost to investor confidence

Shapoorji Pallonji Group seeks waivers from lenders for launch of Afcons pre-IPO and IPO share sale

On October 1, Moneycontrol reported that SP Group altered its plans for the IPO of Afcons. Now, it plans raise up to Rs 4,000 crore in a pre-IPO round and around Rs 4,500 crore in the IPO. Earlier, the plan was to raise Rs 7,000 crore in the IPO.

Shapoorji Pallonji gets bondholders' approval to postpone Rs 1,800 cr interest payment to December end

In June last year, SP Group entity Goswami Infratech raised Rs 14,300 crore through rupee-denominated zero-coupon NCDs from a group of investors, including Cerberus Capital, Varde Partners, Canyon Capital, Davidson Kempner and others. SP Group had to make an interest payment of close to Rs 1,800 crore on these NCDs by September 30.

Shapoorji seeks Rs 2,000 crore from Davidson Kempner, Deutsche Bank to make interest payments

The talks for raising additional debt come as the group seeks more time for interest payment of Rs 1,800 crore on the debt facility raised by group entity Goswami Infratech

Shapoorji Pallonji group seeks more time to repay lenders

Shapoorji has told the NCD holders that it is in the process of raising funds to repay the debt raised with the support of Sterling Investments Corporation Private Limited. A significant portion of the NCDs were sold to domestic high net-worth individuals by wealth management firms, who were allocated these NCDs by several foreign banks.

Shapoorji Pallonji Group taps Power Finance Corp for $1.2 billion loan

Discussions on refinancing the group’s loans with state-run PFC have been on for weeks, but the lender has not yet decided on extending the loan. The SP Group pledged its 18% stake in Tata Sons, the holding company of the conglomerate, as security for the original loan.

Adani Ports to buy 95% stake in Gopalpur Port for enterprise value of Rs 3,080 crore