On debt rejig drive, SP Group may sell stake in 3 companies
Surabhi
Mumbai |
Updated on
The Shapoorji Pallonji Group is looking to monetise its assets and may sell its stake partly or fully in at least three of its group companies, including Eureka Forbes, Sterling and Wilson Solar and Afcons Infrastructure, as part of the one-time debt restructuring package being discussed with the lenders.
The company plans to raise about ₹10,332 crore through this asset sale. Additionally, Inter Corporate Deposits (ICDs) given to the SP Group companies are also likely to be realised, largely from its real estate joint venture, SD Corp, and other entities forming part of Shapoorji Pallonji and Company Private Ltd’s real estate portfolio through monetisation of their project assets.
Adani Ports, JM Baxi Group co among firms to submit bids for building stations
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DFCCIL had invited bids from companies that could own and operate private freight terminals near stations
DFCCIL had invited bids from companies that could own and operate private freight terminals near stations×
Adani Ports and SEZ, JM Baxi Group company and a joint venture of SKN Terminal Haryana City Gas are among companies that have submitted bids to invest in land to operate private freight terminals or multimodal logistics parks along Indian Railways’ dedicated freight corridor.
According to multiple sources, they have submitted bids for 14 stations. These include nine locations along the Western Corridor and four along the Eastern corridor. The locations for which Dedicated Freight Corridor Corporation of India Ltd (DFCCIL) received bids are New Dadri, New Ateli, New Sanjali, New Phulera, New Bhagega, New Kishangarh, New Dharuheda, New Kanpur, New Muzaffarnagar, New Palghar