Shapoorji Pallonji Group in final lap to raise nearly Rs 28,600 crore debt

Over a dozen investors keen on buying the bonds that may be backed by the group's stake in Tata Sons

Over a dozen financial firms worldwide are keen to participate in the Shapoorji Pallonji Group’s $3.3 billion (around ₹28,600 crore) debt-raising efforts, underscoring investors’ appetite for the real estate and construction giant’s financial strategy.

 

The private credit — India’s largest — is being raised by Evangelos Ventures Pvt Ltd, a promoter entity.

 

Proceeds of the fundraise would be used to repay loans of the group's real estate and infrastructure companies, said a banker close to the transaction.

 

The group is targeting to close the transaction as early as next week and list the bonds on the stock exchanges.

 

The three-and-a-half