India’s Shapoorji Pallonji Group plans to use some of the proceeds from a potential sale of its 18.4% stake in Tata Sons Pvt. to repay debt held by its infrastructure unit, according to people familiar with the matter.
Shapoorji is aiming to settle the outstanding ₹8,300 crore bonds that were issued by Goswami Infratech Pvt. and mature in April next year, said the people, who asked not to be identified because the matter is private.
A full or partial repayment of Goswami’s debt would assist investors to support the group’s other capital expenditure plans, they said. Talks are at an early stage and the plans could still change, the people said.
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