Shapoorji Pallonji Group to Refinance ₹2,000-cr Loan Through Banks

The Shapoorji Pallonji Group is set to tap mainstream banks to refinance a ₹2,000 crore loan from HDFC Bank. The new loan will be collateralized by shares of Afcons Infrastructure and certain real estate assets. The group had initially considered private credit but opted for a bank loan due to lower interest rates, ranging from 11.5-12%. The refinancing is expected to occur later next year.