Shapoorji Pallonji group closes ₹21,350 crore fundraise; Desai & Diwanji, TT&A advise

Banking & Finance 23 Jul 2026· ₹21,350 cr · Completed· ◔ Reported

The Shapoorji Pallonji group has raised ₹21,350 crore by issuance of unrated, unlisted, secured, zero coupon, redeemable non-convertible debentures of Eqyizen Investment Private Limited, a promoter group entity of SP group. The INR NCDs were secured by, among others, part of SP groups’ shareholding in Afcons Infrastructure Limited and 50% of SP group’s shareholding in Tata Sons Private Limited. Desai & Diwanji advised Eqyizen Investment on this NCD issuance, while A&O Shearman acted as the English legal counsel for Eqyizen Investment. TT&A advised Deutsche Bank A.G which served as the coordinating bank on the NCD issuance.

CounselTT&A, A&O Shearman, Linklaters
SectorBFSI
Value₹21,350 cr

Sources

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