 "Shapoorji Pallonji may sell Tata Sons stake to repay ₹8,810 crore debt")
The Shapoorji Pallonji Group may use part of the proceeds from a potential sale of its 18.4 per cent stake in Tata Sons to repay ₹8,810 crore in bonds, Bloomberg reported.
The company aims to repay ₹8,810 crore ($1 billion) in bonds issued by Goswami Infratech Pvt, due in April 2026. Paying off this debt could free up funds for other projects. Talks are still in the early stages and the plan could change.
Link to Tata Sons exit talks
Last week, The Economic Times reported that Tata Sons had started discussions with Shapoorji about options for the group to exit its stake. This comes less than three months after Shapoorji raised $3.4 billion in India’s largest-ever private credit deal.
Using proceeds from the Tata Sons stake sale to repay the bonds would help cut borrowing costs. In May, Shapoorji offered a high 19.75 per cent yield to raise funds. The company also recently secured a key waiver from the banking regulator to avoid an increase in costs for its private credit deal.
If the Tata Sons stake sale does not go ahead, Shapoorji plans to start talks in November to refinance the Goswami debt, which matures in 2026.
Shapoorji Pallonji launches ₹800 cr project in Pune
The group’s real estate arm, Shapoorji Pallonji Real Estate (SPRE), has announced a premium residential project in Pune with a revenue potential of ₹800 crore.
The project, called VANAHA Verdant, is located near Bavdhan in southwest Pune. It will cover five acres and offer about one million square feet of saleable space. It is part of a massive 1,000-acre integrated township being developed by SPRE.
The township has over 350 acres of open spaces and a mix of residential, commercial, and retail areas. It is close to major IT hubs such as Hinjewadi, Mahalunge-Mann Hi-Tech City Park, Baner, and the Mumbai-Bengaluru National Highway.
Upcoming infrastructure projects including Metro Line-2 from Chandni Chowk to Viman Nagar, the six-lane Paud-Mahad corridor, a new eight-lane flyover at Chandni Chowk, and the 14-lane Pune Ring Road will “significantly enhance” connectivity, SPRE said.
Within the township, SPRE has already sold more than 2,000 apartments worth ₹1,800 crore in both mid-segment and premium housing projects.