The value of a company's share is a sign of its 'goodwill'. If it is about Tata Group, then it is said for him that 'Tata means trust'… ie 'Goodwill' is 'Goodwill' (credit). Now Shapoorji Pallonji Group, the largest single shareholder in Tata Sons, the holding company of Tata Group, has made a plan to take advantage of this 'goodwill'.
Actually Shapoorji Pallonji Group wants to settle some part of its debt liabilities, as well as infuse some cash in its operating companies. For this, he has made a plan to raise $ 1.75 billion (about Rs 14,300 crore). The company wants to fulfill this by pledging its shareholding in Tata Group.
will pledge such percentage of shares
Shapoorji Pallonji Group holds 18.37 per cent stake in Tata Sons. Out of this, shares equal to 9 percent stake have already been pledged by the group. Now the remaining shares are also going to be pledged by the group. After this transaction, the total value of loans raised by Shapoorji Pallonji Group by pledging Tata Sons shares will be worth Rs 24,500 crore. While the total stake of Shapoorji Pallonji Group in Tata Sons is valued at around Rs 94,000 crore.
Shapoorji Pallonji Group will pledge these shares to two foreign banks and several foreign credit funds. Cyrus Investment Private Limited will do the work of raising the loan by pledging these shares. This is a unit of the Mistry family.
Standard Chartered, Deutsche Bank got the responsibility
Shapoorji Pallonji Group has given the responsibility of raising this money by pledging shares to Standard Chartered and Deutsche Bank. Both the banks have been associated with the group for a long time. Apart from these two, other banks are also planning to participate in this transaction.
According to sources, the transaction may include Cerberus Capital Management, Ares SSG, Oaktree Capital, Davidson Campner Capital Management and pension funds like Ontario Municipal Employees Retirement System etc. However, no one has officially refused to say anything about this.
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