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.
PFC Seeks Legal View on SP Promoters' ₹15kcr Loan Ask 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.
PFC seeks legal view on Shapoorji Pallonji promoters' Rs 15,000 crore loan ask 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.
The Tata Trusts and Tata Sons are said to be closely monitoring the Shapoorji Pallonji (SP) Groups bid to raise ₹20,000 crore from state-run institutions to refinance debt taken against stakes in the Tata Group holding company.