Shapoorji Pallonji Group (SP Group) is said to have raised $650 million through a three-year bond issued by group entity Mercury Finance Company, according to market sources. The bond was priced at a 14.5 per cent coupon. The transaction garnered support from several marquee global investors spanning hedge funds, asset management firms and international banking institutions.

The proceeds will primarily be used to refinance outstanding obligations linked to ₹ 14,300 crore of zero-coupon debentures issued in 2023 by group holding company Goswami Infratech. The debentures, which were originally due on April 30, had their maturity extended first to June 30 and subsequently to July 31.

The refinancing package is also expected to include a rupee-denominated component, with Deutsche Bank acting as the sole arranger. SP Group spokesperson could not be reached for comment.

Published on July 10, 2026