India’s Goswami Infratech, a unit of Shapoorji Pallonji Group (SP Group), will complete a bond issue to refinance existing borrowings before the end of January, three bankers aware of the matter said on Thursday. The real estate and civil engineering company is preparing to raise around 250 billion rupees ($2.84 billion) through a two-year zero-coupon … Read more
Mumbai: Shapoorji Pallonji group company Goswami Infratech has requested bondholders’ consent for time extensions and waivers related to the upcoming initial public offering (IPO) of group firm Afcons Infrastructure. In a communication to bondholders, Goswami Infratech has assured bondholders of ₹14,300-crore NCDs (non-convertible debentures) that it is not seeking a waiver on pricing conditions, but … Read more
Mumbai: Edgy over Shapoorji Pallonji (SP) Group’s plans to roll over pledged Tata Sons shares to refinance over $2 billion debt, Tata Trusts has, for the first time, officially said these are non-transferable. The Trusts, which holds a controlling 66% in group holding company Tata Sons, is worried about possible litigation with lenders over enforcing … Read more
Mumbai: The Shapoorji Pallonji Group (SP Group) is offering ₹400 crore more to the bondholders of group company Goswami Infratech, in exchange for their consent to extend the deadline to meet certain covenants on ₹14,300 crore of borrowings. The company, which has to pay ₹1,400 crore in interest this month, has sought a four-month window … Read more
Bonds issued by Indian companies saw their biggest foreign inflow in five years as the nation’s largest ever low-grade local currency debt sale drew a slew of overseas investors attracted by the high yield on offer. Goswami Infratech Pvt., a Shapoorji Pallonji group company controlled by tycoon Shapoor Mistry, raised 143 billion rupees ($1.7 billion) … Read more