Latest news with #ShapoorjiPallonji&Co.
India.com
04-07-2025
- Business
- India.com
This Indian company eyes Rs 25050000000 loan to repay existing debt at HDFC bank, not Mukesh Ambani's Reliance, Ratan Tata's Tata Motors, TCS, Infosys, name is…
This Indian company eyes Rs 25050000000 loan to repay existing debt at HDFC bank, not Mukesh Ambani's Reliance, Ratan Tata's Tata Motors, TCS, Infosys, name is... Shapoorji Pallonji & Co., the construction arm of the Shapoorji Pallonji Group, is in talks with banks to borrow about USD 300 million (roughly Rs. 25 billion). Three people who know about the discussions told Reuters that the money will be used to refinance, or replace, an earlier loan. The potential loan would be secured as it will be backed by shares of Afcons Infrastructure, an engineering subsidiary of the Shapoorji Pallonji Group, reported the news agency, citing people aware of the development. The agency report also highlighted that the debt, which Shapoorji Pallonji seeks to refinance, belongs to the largest private bank in India, HDFC Bank. How the company plans to secure the new loan The firm may take the loan in Indian rupees. The loan would be backed by shares of Afcons Infrastructure (another group company) plus some of the group's real‑estate properties. Two of the sources said the company hopes for an interest rate of around 15 per cent, though the final terms have not been set. The debt being replaced ICRA data shows that in March 2022 Shapoorji Pallonji & Co. took a term loan of about Rs. 22.5 billion (around USD 263 million) from HDFC Bank. The new borrowing will pay off that earlier loan. No official comment yet When Reuters asked the company for details, Shapoorji Pallonji & Co. did not respond. If the talks succeed, the new funds will help the company manage its debts more smoothly by replacing the older loan with fresh financing under updated terms. Shares detail of Shapoorji Pallonji and Afcons Infra As Shapoorji Pallonji & Co. plans to use shares of Afcons Infrastructure as security to get a new loan for paying off old debts, here's a quick and easy look at how Afcons shares are doing in the stock market. On Thursday (3 July 2025), Afcons shares closed at Rs. 433, which is a small rise from the previous day's close of Rs. 430.75. Since the company got listed on the stock market in November 2024, the share price has fallen by around 11.79 per cent. So far in 2025, the shares are down by 19.76 per cent, but in the last one month, they have gone up by 2.45 per cent. All-time highs and lows: The highest price Afcons shares ever reached was Rs 570 on 3 January 2025. The lowest price was Rs. 382.40 on 7 April 2025. As of Thursday's closing, Afcons Infrastructure's total market value (market capitalisation) was about Rs. 15,925 crore.
Mint
03-07-2025
- Business
- Mint
Shapoorji Pallonji & Co. aims to raise $300 million to refinance its existing debt — Details here
The construction arm of the Shapoorji Pallonji Group conglomerate, Shapoorji Pallonji & Co., is in discussions with bankers to raise nearly $300 million to refinance the company's existing debt, reported the news agency Reuters, citing three people aware of the development. According to the news agency's report, the company may seek to raise the required funds in Indian currency (Rupees). The potential loan would be secured as it will be backed by shares of Afcons Infrastructure, an engineering subsidiary of the Shapoorji Pallonji Group, reported the news agency, citing people aware of the development. They said that in addition to the backing of the company shares, some other real estate assets will serve as security for the loan. The agency report also highlighted that the debt, which Shapoorji Pallonji seeks to refinance, belongs to the largest private bank in India, HDFC Bank. Tbe company will aim to avail a loan at nearly 15% interest rate, however the details of the refinancing deal is yet to be confirmed. The news agency sent queries to the construction firm Shapoorji Pallonji & Co., but it did not receive a response. The report also mentioned that the company took a term loan of around ₹ 2,250 crore from HDFC Bank in March 2022. As Shapoorji Pallonji & Co. aims to pledge Afcons Infrastructure shares to the bankers for a loan to refinance its existing debts, let's take a look at the shares of the Shapoorji Pallonji Group's engineering arm. Afcons Infrastructure shares closed 0.52% higher at ₹ 433 after Thursday's stock market session, compared to ₹ 430.75 at the previous market close. The Shapoorji Pallonji Group's engineering subsidiary shares have lost 11.79% since their listing on the Indian stock market in November 2024. The shares are trading 19.76% lower on a year-to-date (YTD) basis in 2025. However, in the last one-month period, the shares have gained 2.45% in the stock market. Shares of Afcons Infra hit an all-time high of ₹ 570 on 3 January 2025, while the all-time low was ₹ 382.40 on 7 April 2025, according to the data collected from BSE website. The company's market capitalisation (M-Cap) stood at ₹ 15,925.07 as of the stock market close on Thursday, 3 July 2025. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
