Archive · 14 Nov 2025
SP Group Unit Seeks Global Investors for Large Bond Sale
Imagine a big company called SP Group wants to borrow a lot of money from people all over the world.
They are offering to pay back the money with a very high interest rate, almost 20 percent!
This is because they need to pay back other money they owe soon.
They are talking to big money managers like PIMCO and BlackRock to see if they will lend them the money.
The company is promising to give them a share of another company they own, called Tata Sons, if they need to.
It's like asking for a big loan to help pay off smaller debts.
This is a big deal because it's one of the largest bond sales from India.
However, no one has actually promised to lend the money yet, as the company is just starting to ask.
SP Group unit Goswami Infratech is seeking to raise around ₹2,500 crore ($2.8 billion) through a bond sale.
The company is targeting top global investors, having met with firms like PIMCO, BlackRock, and Vanguard.
The proposed bond is a two-year zero-coupon issue with a yield of 19.75%.
Proceeds will be used to refinance existing debt and for corporate purposes.
The new bonds will be secured by SP Group's stake in Tata Sons.
- Who
- Goswami Infratech, a unit of Shapoorji Pallonji Group, is in talks with global investors including PIMCO, BlackRock, and Vanguard.
- What
- The company is planning a mega bond sale to raise approximately ₹2,500 crore ($2.8 billion) through a two-year zero-coupon bond offering a 19.75% yield.
- When
- The bond issue is likely to close by the end of January. Non-deal roadshows were held last week.
- Where
- The bond sale targets top global credit investors.
- Why
- The funds will be used to refinance outstanding debt maturing in April 2026 and other loan and corporate expenses.
Company Statement
Investor Position
Bond Offering Details
Company Statement
Goswami Infratech is planning to offer a yield of 19.75% on a two-year zero-coupon bond.
Investor Position
No investment commitments have been made yet as talks are at an early stage.
Purpose of Funds
Company Statement
Funds will be used to refinance outstanding debt and for other corporate purposes.
Investor Position
Investors are evaluating the risk and return profile of the offering.
- Company
- Goswami Infratech (unit of Shapoorji Pallonji Group)
- Amount to Raise
- ₹2,500 crore ($2.8 billion)
- Bond Type
- Two-year zero-coupon bond
- Offered Yield
- 19.75%
- Purpose
- Refinance outstanding debt and corporate purposes
- Security
- SP Group's 9.2% stake in Tata Sons via subsidiary Cyrus Investments
- Credit Rating
- BB-