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Shapoorji Pallonji & Co to reduce debt by Rs 4,000 crore in FY23

Its consolidated external debt reduced by about Rs 13,500 crore during FY22 to Rs 23,475 crore as on March 31

debt restructuring, Banks, lending, lenders, RBI,
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A majority of the promoter debt (about Rs 3,100 crore of the Rs 3,900 crore) has been converted into compulsory convertible preference shares/perpetual debt

Abhijit Lele Mumbai
Shapoorji Pallonji & Company (SPCPL) will reduce its debt further by Rs 4,000 crore in the current financial year (2022-23) through divestment of assets.

The flagship company of Shapoorji Pallonji Group (SP Group), SPCPL exited from a one-time restructuring (OTR) plan in 2021-22 (FY22) with repayment of the entire OTR debt, ahead of the OTR timelines. It did this through infusion of funds by promoters, proceeds from monetisation of assets, and a fresh term loan.  

Its consolidated external debt reduced by about Rs 13,500 crore during FY22 to Rs 23,475 crore as on March 31.

Factoring in improvement in financial

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First Published: Aug 24 2022 | 9:51 PM IST

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