Shapoorji secures commitments for Rs 21,350 cr from investors including Mercury Finance, Deutsche Bank

Shapoorji Pallonji Group has secured around Rs 21,350 crore in refinancing commitments from investors including Mercury Finance and Deutsche Bank, each committing about Rs 6,210 crore. The rupee-denominated NCD portion is priced at around 18.95% while the US dollar tranche yields about 14.5%, with the package backed by the group's 18.37% stake in Tata Sons. The deal, resized from an initially proposed Rs 25,500 crore, is among the largest private credit-led refinancing exercises in India and drew participation from global distressed debt investors and domestic wealth managers.