Shapoorji Pallonji Group to kick off $2.6 bn raise this week

Shapoorji Pallonji Group is set to initiate a Rs 22,000-crore fundraising effort with alternative asset managers and private credit players. The funds are aimed at refinancing maturing debt and reducing borrowing costs. This follows a failed negotiation with Power Finance Corp to raise Rs 20,000 crore last month due to high exposure risks.