---
title: "India's SP Group unit gets investor nod for 2-month debt extension plea, sources say"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/283125738.md"
description: "India's Shapoorji Pallonji Group has reportedly received investor approval for a two-month extension on debt repayment for its unit, Goswami Infratech. The company, which raised 143 billion rupees ($1.54 billion) through bond sales, is seeking to extend the maturity of high-yield notes to June 30 from April 30. Investors are likely to approve this request without additional demands. Goswami Infratech's plans to raise $2.8 billion to $3.1 billion have faced delays due to increased rupee hedging costs. Deutsche Bank is arranging a new zero-coupon bond issue for the company."
datetime: "2026-04-17T09:52:20.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/283125738.md)
  - [en](https://longbridge.com/en/news/283125738.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/283125738.md)
---

# India's SP Group unit gets investor nod for 2-month debt extension plea, sources say

By Dharamraj Dhutia and Khushi Malhotra

MUMBAI, April 17 (Reuters) - Investors have likely agreed to a request from India's Shapoorji Pallonji Group for ‌a two-month extension to repay debt raised by its real estate and ‌civil engineering unit, Goswami Infratech, two sources familiar with the matter said on Friday.

The company had ​raised 143 billion rupees ($1.54 billion) in June 2023 through bond sales to marquee foreign private credit funds, including Ares Management, Cerberus Capital Management, Davidson Kempner Capital Management and Varde Partners.

The bonds were originally issued at a yield of 18.75%, which ‌the company later stepped up ⁠by 200 basis points. After partial pre-payments to some investors, the bonds have an outstanding amount of 83.43 billion rupees, ⁠per local rating agency Care Ratings.

The funds mentioned did not immediately reply to Reuters emails seeking comment.

Goswami Infratech has asked investors to extend the maturity of the high-yield ​notes ​to June 30 from April 30, the ​sources said, asking not to be ‌identified since they are not authorised to speak to the media. The company will not offer anything additional above its current yield, they added.

Almost all investors are on board and are likely to approve it without additional demands, one of the sources said.

Reuters reported on Monday that Goswami Infratech's plan to raise $2.8 ‌billion to $3.1 billion over the past few ​months has been delayed by a surge in ​rupee hedging costs.

Of this, the ​company had planned to raise about $500 million to $1 billion through ‌U.S. dollar-denominated bonds, with the remainder via ​rupee-denominated three-year zero-coupon ​bonds, one of the sources said.

Deutsche Bank is the sole arranger for the upcoming zero-coupon bond issue, and has been conducting meetings with investors ​over the last few ‌weeks.

Deutsche Bank declined to comment, while requests for comment sent to ​Shapoorji Pallonji Group went unanswered.

($1 = 92.7850 Indian rupees)

(Reporting by Dharamraj Dhutia ​and Khushi Malhotra; Editing by Janane Venkatraman)

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