Economic TimesLean R·
SPG turns to Tata stake for a cash boost
Mumbai: Shapoorji Pallonji (SP) Group would use a part of its 18.37% Tata Sons equity to launch a ₹25,500-crore bond issue Monday, multiple people familiar with the high-yield fundraising told ET.Its terms require that within 18 months of the issue, either Tata Sons announces an initial public offering (IPO), or SP Group reaches a settlement with the Tata holding company on its ownership."The bond's terms themselves acknowledge that monetisation of the Tata Sons stake is central to repayment," …
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