Go Unlimited with Magzter GOLD
Get unlimited access to 10,000+ magazines, newspapers and Premium stories for just
Try GOLD - Free
SP Group to raise ₹22,000 crore to refinance debt
The New Indian Express Nagapattinam
|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 New Indian Express Nagapattinam.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The New Indian Express Nagapattinam
The New Indian Express Nagapattinam
TN signs MoU to upgrade 44 govt polytechnic colleges
CHIEF Minister MK Stalin on Thursday virtually inaugurated infrastructure projects worth %59.93 crore in government arts and science colleges across Cuddalore, Villupuram, Tirupattur, Ariyalur and Mayiladuthurai, and presided over two key initiatives aimed at strengthening the state’s higher education and technical institutions. During the event
1 min
November 21, 2025
The New Indian Express Nagapattinam
Name missing in rolls, man tries to kill self in Bengal
A 64-year-old rickshaw-puller attempted suicide on Wednesday night in North 24 Parganas, reportedly depressed that his name did not appear in the Special Intensive Revision (SIR) of electoral rolls in West Bengal.
1 min
November 21, 2025
The New Indian Express Nagapattinam
LINKING INDIA'S 2-SPEED ECONOMY
THE parallel analysis of some key indicators reveals a sharp and persistent divergence in India’s growth story. The Index of Industrial Production for September 2025, when combined with RBI’s Industrial Outlook Survey for July-September 2025, highlights a troubling conflict. Industrial growth is being vigorously driven by investment and capital goods, but is being held back by uneven household demand, particularly in mass-market segments.
3 mins
November 21, 2025
The New Indian Express Nagapattinam
Vedic ritual for Ram temple flag hoisting today
THE Vedic rituals for the Dharm Dhwajaarohan (flag-hoisting) ceremony at the Ayodhya Temple will commence on Friday.
1 min
November 21, 2025
The New Indian Express Nagapattinam
India to see over 1 billion 5G subscriptions by 2031
TELECOM equipment maker Ericsson released its Mobility Report on Thursday, predicting that India will have more than 1 billion 5G subscriptions by the end of 2031, reaching 79% of total mobile subscriptions.
2 mins
November 21, 2025
The New Indian Express Nagapattinam
MP faux pas: 3 dead teachers get 3 days to explain zero attendance
THREE government school teachers in Madhya Pradesh were recently sent show-cause notices for missing e-attendance. They’ll never respond—because the teachers are dead.
1 mins
November 21, 2025
The New Indian Express Nagapattinam
ED files chargesheet against Vadra in laundering case linked to arms dealer
THE Enforcement Directorate (ED) filed a chargesheet on Thursday against Robert Vadra, businessman and brother-in-law of Rahul Gandhi, in a money laundering case linked to UK-based arms dealer Sanjay Bhandari.
1 min
November 21, 2025
The New Indian Express Nagapattinam
Cloudflare outage: What went wrong
ON Tuesday, several popular platforms and portals including X (formerly Twitter) and ChatGPT went offline due to an outage at Cloudflare, a major web services provider.
1 min
November 21, 2025
The New Indian Express Nagapattinam
In 1st use of 1950 Act, Assam hunt for 'declared foreigners'
EXPULSION OF IMMIGRANTS
1 mins
November 21, 2025
The New Indian Express Nagapattinam
Stronger regional security network key in changing global order: Doval
NATIONAL Security Adviser Ajit Doval Thursday underscored the “significance” of strengthening regional partnerships amid a “rapidly changing and challenging global security environment,” as he opened the NSA-level meeting of the Colombo Security Conclave (CSC) in New Delhi.
1 mins
November 21, 2025
Listen
Translate
Change font size