Shapoorji Pallonji & Co. aims to raise $300 million to refinance its existing debt — Details here | Company Business News

The construction arm of the Shapoorji Pallonji Group conglomerate, Shapoorji Pallonji & Co., is in discussions with bankers to raise nearly $300 million to refinance the company’s existing debt, reported the news agency Reuters, citing three people aware of the development. 

According to the news agency’s report, the company may seek to raise the required funds in Indian currency (Rupees).

The potential loan would be secured as it will be backed by shares of Afcons Infrastructure, an engineering subsidiary of the Shapoorji Pallonji Group, reported the news agency, citing people aware of the development.

They said that in addition to the backing of the company shares, some other real estate assets will serve as security for the loan.

The agency report also highlighted that the debt, which Shapoorji Pallonji seeks to refinance, belongs to the largest private bank in India, HDFC Bank. Tbe company will aim to avail a loan at nearly 15% interest rate, however the details of the refinancing deal is yet to be confirmed. 

The news agency sent queries to the construction firm Shapoorji Pallonji & Co., but it did not receive a response.

The report also mentioned that the company took a term loan of around ₹2,250 crore from HDFC Bank in March 2022.

An Insight into Afcons Infra shares

As Shapoorji Pallonji & Co. aims to pledge Afcons Infrastructure shares to the bankers for a loan to refinance its existing debts, let’s take a look at the shares of the Shapoorji Pallonji Group’s engineering arm. 

Afcons Infrastructure shares closed 0.52% higher at ₹433 after Thursday’s stock market session, compared to ₹430.75 at the previous market close.

The Shapoorji Pallonji Group’s engineering subsidiary shares have lost 11.79% since their listing on the Indian stock market in November 2024. The shares are trading 19.76% lower on a year-to-date (YTD) basis in 2025. However, in the last one-month period, the shares have gained 2.45% in the stock market. 

Shares of Afcons Infra hit an all-time high of ₹570 on 3 January 2025, while the all-time low was ₹382.40 on 7 April 2025, according to the data collected from BSE website. The company’s market capitalisation (M-Cap) stood at ₹15,925.07 as of the stock market close on Thursday, 3 July 2025. 

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