{"id":1246,"date":"2023-04-12T06:28:30","date_gmt":"2023-04-12T06:28:30","guid":{"rendered":"https:\/\/www.homebazaar.com\/news\/?p=1246"},"modified":"2023-04-12T06:28:36","modified_gmt":"2023-04-12T06:28:36","slug":"shapoorji-pallonji-will-raise-2-5-billion-from-realty-infrastructure-stake-sale","status":"publish","type":"post","link":"https:\/\/www.homebazaar.com\/news\/shapoorji-pallonji-will-raise-2-5-billion-from-realty-infrastructure-stake-sale\/","title":{"rendered":"Shapoorji Pallonji Will Raise $2.5 Billion From Realty &amp; Infrastructure Stake Sale"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Shapoorji Pallonji Group (SP) is aiming to raise around $2.5 billion as it decided to sell some of its real estate &amp; infrastructure assets to pare debts. The plan is such that it is decided to sell a stake in Afcons Infrastructure, the group acquired the company from Gopalpur Ports &amp; ICICI Bank.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Shapoorji Pallonji Group has also kept an idea of selling an owned asset from Mahimananda Mishra, entrepreneur of Orissa Stevedores &amp; metal trader Sara International.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Selling part of its around 100 million sq. ft development real estate assets is also on the list. Over to this, asset monetization proceeds are going to be utilized to reduce the company\u2019s Rs. 21000 crores of debt &amp; also for other purposes. However, the SP group has refused to say its word regarding this.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Years ago, the group had the plan of listing the Afcons Infrastructure on the Indian stock exchange. And even after receiving regulatory approval, the group decided not to proceed with it.<\/span><\/p>\n<p><span style=\"font-weight: 400\">The group that constructed the Sultan Of Oman\u2019s palace &amp; longest highway tunnel, the Atal tunnel, is now opting for multiple fundraising opportunities to seek growth in leverage metrics.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Previously, the group has divested Eureka Forbes &#8211; water purifier makes, the Jammu-Udhampur highway assets, Sterling &amp;Wilson renewable energy, and Forbes facility services to minimize its loan obligations.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Shapoorji Pallonji Group had previously raised around $1.3 billion by offering half of the 18.37% stake in Tata Sons with Ares SSG Capital &amp; Farallon Capital.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Even after all of this plan of asset sales, SP group is opting to raise $1.75 billion by pledging the rest of the Tata Sons stake.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shapoorji Pallonji Group (SP) is aiming to raise around $2.5 billion as it decided to sell some of its real estate &amp; infrastructure assets to pare debts. The plan is such that it is decided to sell a stake in Afcons Infrastructure, the group acquired the company from Gopalpur Ports &amp; ICICI Bank.\u00a0 Shapoorji Pallonji [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":1247,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[117],"tags":[359,432,433],"class_list":["post-1246","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-latest-real-estate-news","tag-shapoorji-pallonji-group","tag-shapoorji-pallonji-will-raise-2-5-billion"],"_links":{"self":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/posts\/1246","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/comments?post=1246"}],"version-history":[{"count":0,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/posts\/1246\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/media\/1247"}],"wp:attachment":[{"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/media?parent=1246"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/categories?post=1246"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.homebazaar.com\/news\/wp-json\/wp\/v2\/tags?post=1246"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}