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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.
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