SP Group offers 6x security cover for Rs 15,000 crore PFC loan

Quick Summary:

The Shapoorji Pallonji Group offered a security cover more than six times the Rs 15,000 crore loan from Power Finance Corporation.

They secured the loan with land parcels and Tata Sons shares.

PFC will have a lien on incomes from specific SP Group entities and dividends from Tata Sons.

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Article Details

Author / Journalist: Reeba Zachariah

Category: EconomyBusiness

Markets: IndiaBangladeshChinaGermany

Topics: Tata Sons shares Mumbai news today Mumbai news Mumbai news live SP Group Mumbai latest news PFC loan Security cover Today news Mumbai Shapoorji Pallonji Group

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-07 @ 07:00:40 (6 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 815 words

Reading Time: 5 minutes read

Sentences: 29 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 21963098

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