With equity commitments worth Rs 2,500 crore to several ongoing projects pending, and debt levels rising, Shapoorji Pallonji Group (SP Group) on Monday sold its solar power assets to global financial powerhouse KKR for Rs 1,550 crore in a fire sale.
But analysts said this sale will not be enough for SP Group company to meet its financial commitments and it will have to sell more assets in the near future to trim its debt. The portfolio sold by Shapoorji Pallonji Infrastructure Capital Company (SP Infra), a subsidiary of SP Group’s holding company, comprises 169 ...
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