A consortium of global investors have shown keen interest to make fresh investment in the SP Group on the back of deleveraging exercise by the group through asset monetisation.
In the latest development, a few global investors have in-principle agreed to increase their investment in Goswami Infratech, an investment arm of SP Group.
Existing investors have also committed to stay invested through the group’s growth phase, sources said.
The development comes on the back of the SP Group lining up near-term repayments of nearly ₹8,000 crore.
Its agreement with Adani Ports to sell its port business at Gopalpur, Odisha, was recently approved by the State government.
Asset monetisation
Led by its Chairman Shapoor Mistry, the SP Group has been on an aggressive deleveraging strategy driven by select asset monetisation.
The 150-year SP Group, which has largely remained private, has been looking to unlock value by listing some of its flagship companies. Afcons, the SP Group’s infrastructure EPC company, is expected to list in the next few weeks.
The group also intends to take its large real estate business public in the next two years.
“We are keen to have reputed global investors in our capital table. As the Group embarks on a new growth phase, we are committed to promises made to lenders,” said a SP Group spokesperson.
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