Tag: Shapoorji Pallonji Group

Residential

Bengaluru: Home buyers protest against Shapoorji Pallonji Group over project delay

BENGALURU: Hundreds of aggrieved home buyers staged a silent protest on Saturday against the inordinate delay in handing over of flats to them by the Shapoorji Pallonji Group and multiple extensions given by Karnataka Real Estate Regulatory Authority (KRERA) to the builder. The home buyers said that they were supposed to get flats at Parkwest Magnolia Tower 5 and 6 much before 2021, but COVID-19 came in the way facilitating the builder to get an extension from the KRERA. The home buyers said that KRERA made them sign settlement agreements to get the flats by September 2024, but the builder…

Industry

Shapoorji Pallonji Group secures $3.4 billion in private credit deal

MUMBAI: Indian real estate and construction conglomerate Shapoorji Pallonji Group has completed a $3.4 billion financing in the country’s biggest ever private credit deal, according to people familiar with the matter. About a dozen large investors – some using multiple funds – bought zero-coupon rupee bonds that offer a yield of 19.75%, the people said, asking not to be identified because the information is private. The debt matures in three years. Top investors include Ares Management Corp, Cerberus Capital Management, Davidson Kempner Capital Management and Farallon Capital Management, people said. Deutsche Bank acted as the sole arranger of the deal…