SP Group Secures Rs 15,000 Crore Loan from PFC with Unparalleled Security Cover
SP Group offers 6x security cover for Rs 15,000 crore PFC loan, leveraging real estate franchise and Tata Sons shares as collateral
Sp GroupPfcTata SonsShapoorji Pallonji GroupReal EstateInfrastructureLoanSecurity CoverNbfcReal Estate MumbaiAug 06, 2024
The loan, sanctioned by the PFC board on June 14, will be utilized to refinance existing liabilities of promoter entities and retire debts of group operating companies. The SP Group, led by Shapoor Mistry, has provided land parcels in Mumbai and other locations, as well as a portion of Tata Sons shares owned by the promoters, as collateral against the loan amount.
Frequently Asked Questions
What is the loan amount sanctioned by PFC to SP Group?
Rs 15,000 crore
What is the security cover offered by SP Group for the loan?
Six times the loan value
What assets has SP Group provided as collateral for the loan?
Land parcels in Mumbai and other locations, as well as a portion of Tata Sons shares owned by the promoters
How will SP Group utilize the loan amount?
To refinance existing liabilities of promoter entities and retire debts of group operating companies
What is the planned IPO of Afcons Infrastructure expected to raise?
Rs 7,000 crore
Related News Articles
Rohan Builders Achieves Unparalleled Excellence with 14 Consecutive Years of CRISIL DA2+ Grading
Rohan Builders continues to maintain its prestigious DA2+ Developer Grading from CRISIL, demonstrating its commitment to excellence in financial and operational parameters.
Sebi Chief Remains Tight-Lipped on Real Estate Investment Trusts
REITs comprise a portfolio of commercial real estate assets, most of which are already leased out.
PGA of America Launches State-of-the-Art Golf Courses in Mumbai, Navi Mumbai, and Hyderabad
AIVOT Golf & Sports Management collaborates with Shapoorji Pallonji Real Estate, Stonecraft Group, and Tvastar Golf to introduce PGA of America-branded golf courses in Mumbai, Navi Mumbai, and Hyderabad, setting a new standard for golf excellence in India
Raymond Expands Real Estate Footprint with Mahim Project Deal
Raymond, in a strategic move, has signed a Joint Development Agreement for a prestigious residential project in the prime location of Mahim West, Mumbai.
Amrita Singh, Zaheer Khan Among Celebrities Investing in Mumbai's Luxury Real Estate
Amrita Singh and Zaheer Khan are among the latest celebrities making significant investments in Mumbai's luxury real estate market. Discover the trends and insights of these high-profile investments.
SP Group Raises $3.3 Billion from Five Funds to Boost Real Estate and Construction Projects
SP Group secures a significant $3.3 billion investment from five prominent funds, aimed at refinancing and expanding its real estate and construction projects. This strategic move will help the company solidify its position in the market and drive sustain