Afcons Infrastructure’s parent, Shapoorji Pallonji Group, is considering using proceeds from a possible sale of its 18.4% stake in Tata Sons to repay $1 billion (Rs 88.1 billion) in bonds issued by Goswami Infratech Pvt., maturing in April 2026, according to a report by NDTV citing people familiar with the matter.
The repayment — which may be full or partial — could help investors support the group’s other capital expenditure plans. Sources told NDTV that discussions are still at an early stage and the plan could change.
The development comes less than three months after Shapoorji Pallonji raised $3.4 billion in India’s largest private credit deal. NDTV also reported that Tata Sons has already begun talks with the group to explore exit options.
Reducing debt via stake sale proceeds would also lower borrowing costs, after the group offered a 19.75% yield in a May transaction. Last month, Shapoorji secured a regulatory waiver to avoid an increase in the financing cost of the credit deal.
