Home / Companies / News / Shapoorji's $1.2 bn deal with ADIA on hold over debt issues, coronavirus

Shapoorji's $1.2 bn deal with ADIA on hold over debt issues, coronavirus

The group had planned to launch a $1.2-billion venture with ADIA, wherein the partners were to raise the money in two tranches of $600 million each

investment, investors, savings, mf, funding, tech, economy, gdp, aif, alternative investment fund, capital, startups, tech, savings, money, cash, shares, funds, equity

Premium

Shapoorji has faced many headwinds in the recent past on debt repayments and asset monetisation.

3 min read Last Updated : Nov 30 2020 | 6:05 AM IST

Shapoorji Pallonji Group has kept its ambitious logistics venture with Abu Dhabi Investment Authority (ADIA) on the back burner on account of debt issues and the pandemic, said people in the know.

The group had planned to launch a $1.2-billion venture with ADIA, wherein the partners were to raise the money in two tranches of $600 million each. The venture was to invest in logistics centres in the country.

“Shapoorji was to put in $100 million, and the ADIA $500 million, initially,” the people said, adding that Shapoorji was already looking for land parcels. Shapoorji’s realty arm was spearheading the venture.

“Shapoorji is

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in