SP Group seeks ₹3,500 cr amid Tata Sons IPO uncertainty
after close1 source ↓written by the desknot a recommendation
- to meet
- ₹3,500 crore
- financing facility
- ₹21,350 crore
Shapoorji Pallonji (SP) Group is seeking ₹3,500 crore to meet a debt payment as the IPO of Tata Sons faces delays. The group is negotiating with lenders to utilize a greenshoe option on an existing ₹21,350 crore financing facility, primarily supported by Deutsche Bank. This funding is crucial as SP Group aims to extend the repayment deadline for its financing arm to the end of October.
Not investment advice. For informational purposes only.