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SP Group to raise ₹29,000 crore to refinance debt
The Morning Standard
|March 22, 2025
THE Shapoorji Pallonji (SP) Group, sitting on a debt pile of close to ₹60,000 crore, is on course to raise ₹29,000 crore to refinance its costly forex debt maturing by late May.
As much as 75% or around ₹22,000 crore of this will be raised in the rupee, making it the largest private credit mop-up in the country and over a dozen investors are readying their term-sheets.
Late last year, the SP Group was on the verge of signing an agreement with the state-run Power Finance Corporation to raise ₹20,000 crore. But the deal fell apart at the last leg of the negotiations which sources attributed to the lender's apprehension about the high leverage of the group.
This story is from the March 22, 2025 edition of The Morning Standard.
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