Stay updated with breaking news from Sp Group. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The Shapoorji Pallonji Group on Tuesday announced the sale of its brownfield Gopalpur Port to Adani Ports and SEZ Ltd for an enterprise value of Rs 3,350 crore, as part of its deleveraging strategy with planned asset monetisation. The under-construction Gopalpur Port in Odisha was acquired in 2017
Shapoorji Pallonji & Company (SPCPL) is considering selling its stake in Sterling and Wilson Renewable Energy (SWRE) to meet financial obligations. Plans are underway to manage debt and refinance it, while the Mistry family considers raising loans and has amassed significant debt.
RBI and Sebi barred JM Financial Products from taking any new mandate for acting as a lead manager to any public issue of debt securities
The group’s borrowing costs rose by 2 percentage points due to a breach of a loan covenant breach for not divesting its stake in Gopalpur Port by the end of last year. Failure to list its engineering unit Afcons by June may incur further penalties.
Our specially curated package of the most interesting articles to help you stay at the top of your game