SP Group seeks extension on maturing bond repayments

Kiswahili

Shapoorji Pallonji Group is requesting a two-month extension on ₹14,300 crore of bonds as it adjusts its refinancing plans.

The conglomerate has lowered its overall refinancing target from ₹28,500 crore to ₹25,000 crore. It is now seeking additional time from creditors to handle the maturing debt.

Delays in raising new funds have been linked to higher hedging costs. The group is in talks with lenders to secure the extra period.

Deutsche Bank arranged the refinancing package. The process is expected to close later this summer.

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