Shapoorji Pallonji Group is reportedly going back to private credit for more.

Shapoorji Pallonji Group is reportedly going back to private credit for more.
According to a Bloomberg report citing people familiar with the matter, the group is looking to raise $150 million to $200 million by issuing additional rupee bonds first sold by its Eqyizen Investment unit in July. About half is said to be meant for repaying creditors of group unit Porteast Investment, with the rest going to other group debt. The report says talks are at an early stage and the size and terms could change. SP Group didn’t immediately respond to Bloomberg’s request for comment.

The financing is reportedly targeted for completion by mid-November. Bloomberg notes the group has faced a prolonged wait to monetise assets, including the Mistry family’s roughly 18.4% stake in Tata Sons, as more of its debt comes due.