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Published: May 15, 2023
Updated: May 15, 2023
The Shapoorji Pallonji group is in deep financial trouble over its debts. The group wants to sell assets worth $2 bn, including controlling stake in flagship company, to raise funds.
Bankers say the group has Rs 16,000 crore of debt at the promoter’s level and another Rs 16,000 crore of debt at the company level. The annual interest comes to Rs 3,600 crore which is equal to Rs 10 crore a day.
The group owns a stake in Tata Sons worth billions of dollars but is unable to sell it as the Tata group is not giving the permission. One of the options will be to take the Tata group into confidence and sell a one or two per cent stake in Tata Sons to an investor nominated by the Tata group.
February 15, 2025 - First Issue
Industry Review
VOL XVI - 10
February 01-15, 2025
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