Shapoorji Pallonji Group secured Rs 21,350 crore in commitments for a rupee NCD and a US‑dollar tranche, with Deutsche Bank and Mercury Finance each pledging roughly Rs 6,210 crore alongside global distressed‑debt funds and domestic banks. Backed by the group’s 18.37% Tata Sons stake, the refinancing shows confidence in the collateral and becomes one of India’s largest private‑credit debt raises, diversifying its funding despite high yields.
The government is reviving a stalled plan to merge NaBFID with IIFCL, creating a single lender with a near‑Rs 1.85 trn loan book. The move, inspired by the REC‑PFC merger, aims to boost balance‑sheet strength and marshal long‑term domestic and overseas capital for major infrastructure projects.