Page 5 - Shapoorji Pallonji
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
 "Shapoorji Pallonji group may sell S&W stake as Tatas nix Brookfield plan")
Tata Sons withheld facts on turning private: Mistry firms tell SC
The SC will hear the petitions filed by both the Mistry family and Tata Group next month
 "Tata Sons withheld facts on turning private: Mistry firms tell SC")
Mistry family in talks with investors to raise Rs 4K cr, aims to cut debt
Funds being raised via debt, sale of part stake in Sterling and Wilson Solar
 "Mistry family in talks with investors to raise Rs 4K cr, aims to cut debt")
Commercial ambition sole motive of Mistry, Tata tells Supreme Court
Grievance is only about his removal as chairman: Tata
 "Commercial ambition sole motive of Mistry, Tata tells Supreme Court")
Tata Sons a 2-group firm, quasi-partnership between 2 groups: Mistry family
In its petition to the Supreme Court, Tata Sons has claimed there is no formal or informal agreement like quasi-partnership exists between the two groups, and Tata Sons is not a two-group company.
 "Tata Sons a 2-group firm, quasi-partnership between 2 groups: Mistry family")
Shapoorji Pallonji among 4 finalists for 535-acre theme park, UK's largest
EPC cost pegged at $1.8 billion; first phase to be launched in 2024
 "Shapoorji Pallonji among 4 finalists for 535-acre theme park, UK's largest")
Shapoorji Pallonji Real Estate will ride out the crisis: CEO Gopalakrishnan
We hope to achieve 70% of sales capacity in 6 months, says Venkatesh Gopalakrishnan, chief executive at Shapoorji Pallonji Real Estate
 "Shapoorji Pallonji Real Estate will ride out the crisis: CEO Gopalakrishnan")
Realtors may defer launches to next quarter to cash in on festive season
Given the uncertainty in pick up of demand and logistical challenges during lockdown, property developers are being cautious about the timing of launches in the near term, said Gopalkrishnan
 "Realtors may defer launches to next quarter to cash in on festive season")
KKR to buy Shapoorji Pallonji Group's solar assets for Rs 1,554 crore
The deal is part of KKR's strategy to increase its presence in Asia's infrastructure sector and today's transaction is the firm's second investment in the country as part of its dedicated plan
 "KKR to buy Shapoorji Pallonji Group's solar assets for Rs 1,554 crore")
Shapoorji Pallonji averts crisis, pays Rs 3,000 cr dues to lenders
The dues were paid without pledging the group's 18.5 per cent stake in Tata Sons, said a source close to the development.
SP Group banks on residential properties for growth, to launch new projects
Shapoorji's new launches are coming up mostly in Mumbai, Pune, Kolkata, and Mohali. The launches are in premium, luxury, and mid-income projects
 "SP Group banks on residential properties for growth, to launch new projects")
ICRA downgrades Shapoorji Pallonji & Co's ratings from "AA-" to "A+"
Ratings have been removed from watch with developing implications and 'Negative' outlook assigned
Going after working capital: SP Group firms' among most leveraged in India
The conglomerate had gross debt to equity ratio of 2.4x on an average during the year ended March this year, as against 0.82x on an average for top-listed companies, excluding financials and oil
Shapoorji Pallonji may sell Forbes stake to pay back Sterling Wilson
Shapoorji Pallonji Group, the promoter of Sterling Wilson Solar, is exploring several options, including making Eureka Forbes public or selling stake in its engineering firm Forbes & Company to pay back the inter-company loans the group had taken from the solar company, sources said.
 "Shapoorji Pallonji may sell Forbes stake to pay back Sterling Wilson")
The sun stops shining for Shapoorji Pallonji as solar company IPO falters
Sterling and Wilson shares tank as Shapoorji Pallonji, the controlling shareholders, drag their feet on promise of repaying Rs 23 billion debt.
 "The sun stops shining for Shapoorji Pallonji as solar company IPO falters")
Shapoorji eyes tie-up with IFC, HDFC Capital Advisors for low-cost housing
Plans to build homes in the Rs 10 lakh to Rs 20 lakh category on the peripheries of large and tier II cities
 "Shapoorji eyes tie-up with IFC, HDFC Capital Advisors for low-cost housing")
NCLAT to hear Shapoorji Pallonji's plea on Korba West Power on Oct 15
The Ahmedabad bench of NCLT had in June approved a resolution plan for Korba West Power which gave Shapoorji Pallonji which had constructed the Korba West Power plant, 'nil' amount
 "NCLAT to hear Shapoorji Pallonji's plea on Korba West Power on Oct 15")
Pallonji, ReNew Power to invest Rs 750 cr in UP solar power project
The companies will develop 150 mw floating solar power project in Sonbhadra
 "Pallonji, ReNew Power to invest Rs 750 cr in UP solar power project")
Sterling and Wilson Solar IPO: Business model, diverse operations key
Shapoorji Pallonji & Company holds a 66% stake in SWS while the rest is held by Khurshed Yazdi Daruvala
 "Sterling and Wilson Solar IPO: Business model, diverse operations key")
Shapoorji plans to reduce external debt to Rs 6,200 crore by FY20
It has already initiated the process to liquidate land holdings, according to Rating agency CARE Ratings
