π€ SP Group wants βΉ25k Cr from Tata Sons
Shapoor Mistry, chairman of Shapoorji Pallonji Group, has asked Tata Sons for approximately βΉ25,000 crore within the next two years. This request is for a portion of the 18.37% stake held by SP Group in the unlisted Tata Sons company. The proposal was written to Tata Trusts chairman Noel Tata and is expected to be discussed by Tata Sons executives. SP Group needs the cash to manage debt requirements while allowing Tata Sons to stay a private company. Lenders are pressuring the group to show progress on monetizing the stake before September repayments are due. π°