Edgy over Shapoorji Pallonji (SP) Groups plans to roll over pledged Tata Sons shares to refinance over $2 billion debt, Tata Trusts has, for the first time, officially said these are non-transferable.
SP Group, promoted by the Mistry family, has pledged its entire 18.5% in Tata Sons held through two entities to secure monies from private credit funds such as Ares and Farallon. Additionally, it needs to raise funds for a separate repayment due in three months and refinance existing high-cost borrowings.
Tata Sons raises royalty fee 2x to Rs 200 crore indiatimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiatimes.com Daily Mail and Mail on Sunday newspapers.
Tata Group Companies Face Doubled Royalty Fee indiainfoline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiainfoline.com Daily Mail and Mail on Sunday newspapers.
Tata Communications launches CloudLyte computing platform - The Hindu BusinessLine thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.