Shapoorji Pallonji seeks 2 month extension for ₹14,300cr bonds
Shapoorji Pallonji Group is asking for a two-month extension to pay back ₹14,300 crore in bonds, which were due at the end of April 2026.
The delay isn't about mismanagement: they're just facing tough times with unpredictable currency rates and higher costs to protect against those swings.
They're hoping to lock in new funding by late April.
Fundraising for ₹25,000cr hit by RBI
Their plan was to raise ₹25,000 crore from both Indian and overseas investors, with Deutsche Bank helping out through investor meetings in places like Singapore and Hong Kong.
But recent moves by the Reserve Bank of India have made it way more expensive to hedge currencies, throwing a wrench into their plans.
Bondholders mostly understanding, global interest remains
On the bright side, most bondholders seem pretty understanding about the extension since these issues are market-driven.
There's still solid interest from global funds and banks for new bonds—even if hedging costs are up—so there's hope things will get sorted soon.