India's Shapoorji Pallonji Group has completed its planned fundraising after accepting bids worth 215 billion rupees ($2.25 billion) for a three-year rupee bond issue, three sources said on Friday.
The long-delayed fundraising, aimed at refinancing existing debt, was completed through an investment by one SP Group entity in another, with investors assured the group would monetise part of its Tata Sons stake through a listing or share sale within 18 months.
