Shapoorji Pallonji Group Seeks Up to $200 Million for Debt
Shapoorji Pallonji Group is seeking $150 million to $200 million through private credit to repay mounting debt obligations across its business units.
The Shapoorji Pallonji Group is seeking to raise between $150 million and $200 million to address mounting debt obligations. The Indian conglomerate intends to secure these funds through private credit by issuing additional rupee bonds.
This move follows an initial sale of rupee bonds by the group's Eqyizen Investment Pvt. unit in July. The conglomerate plans to allocate approximately half of the new proceeds to repay creditors of Porteast Investment Ltd., another unit within the group, while the remaining funds will service other group debts.
Discussions regarding the fundraising are currently in the early stages. The group has not finalized the terms, and the total size of the financing may change as negotiations progress.
