Shapoorji Pallonji Group Seeks Funds Amid Mounting Debt

Business Standard · business

The Shapoorji Pallonji Group is reportedly seeking to raise $150 million-$200 million to address its growing debt obligations. Approximately half of these funds will be allocated to repaying creditors of Porteast Investment Ltd, another group entity, with the remainder intended for servicing other group debts. This comes after a recent ₹21,500 crore bond issue primarily aimed at refinancing existing borrowings. The group's financial challenges predate the pandemic, stemming from aggressive expansion into capital-intensive projects and real estate developments that tied up capital and constrained liquidity.