SP Group arm to tap bond pipeline to raise Rs 1,500 crore
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Shapoorji Pallonji Group’s financing unit Eqyizen Investment plans to raise ₹1,500 crore through a tap issue around November 23.
- ✓The company wants to use the money for refinancing and liquidity needs.
- ✓They also hope to negotiate with bondholders to relax rules on how they can use these new funds.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Economic Times
- Reading Speed
- 3 Minute(s)
- Market Focus
- India Economy
Shapoorji Pallonji Group's financing unit Eqyizen Investment is planning to raise ₹1,500 crore through a tap issue. The fundraising is scheduled around November 23 and will support refinancing efforts and liquidity needs. Proceeds will be allocated for repaying existing bondholders and funding group entities. The company aims to negotiate with bondholders to relax existing covenants governing the use of proceeds.
Mumbai: The Shapoorji Pallonji Group's financing unit, Eqyizen Investment, is considering raising around ₹1,500 crore through a tap issue of its existing rupee bonds, as the conglomerate seeks greater flexibility in deploying fresh borrowings amid efforts to refinance debt and address liquidity requirements, people familiar with the discussions said.
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Economic Times
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