Shapoorji Pallonji group may sell S&W stake as Tatas nix Brookfield plan

Group may seek debt moratorium at real estate project level or even sell land parcels across India, say analysts

With the Tatas spiking the Shapoorji Pallonji (SP) group’s plans to raise funds by pledging Tata Sons (TSL) shares, the SP group will have to look at alternative ways like selling stakes in its listed subsidiary Sterling and Wilson (S&W), putting land parcels on the market across India, and restructuring project debt.

In June this year, the group defaulted on a Rs 500-crore loan taken from S&W, and may go for a debt recast as it meets all criteria in accordance with the recommendations of the K V Kamath panel, say sources.

The group started working on an alternative strategy