Shapoorji Pallonji & Company Limited is looking to monetise its assets and may sell its stake partly or fully in at least three of its group companies, including Eureka Forbes Limited, Sterling and Wilson Solar Limited (NSEI:SWSOLAR) and Afcons Infrastructure Limited, as part of the one-time debt restructuring package being discussed with the lenders. The company plans to raise about INR 103.32 billion through this asset sale. Additionally, Inter Corporate Deposits (ICDs) given to the SP Group companies are also likely to be realised, largely from its real estate joint venture, SD Corp, and other entities forming part of Shapoorji Pallonji and Company Private Ltd.'s real estate portfolio through monetisation of their project assets.

“These activities are likely to be taken up in 2021-22," said a source close to the development, adding that plans for the proposed divestment in the three companies will depend on the valuations on the closure of each of the transactions. In September 2020, the SP Group had sought relief to restructure its INR 109.00 billion debt under the resolution framework for pandemic-related stress announced by the Reserve Bank of India. Sources said the SP Group is in talks with the lenders and likely to finalise the resolution package soon.

Proceeds from the proposed monetisation of assets will be used for prepayment of loans. An email query from BusinessLine to the SP Group remained unanswered. Further, as part of the resolution plan, no concession in the rate of interest has been proposed.

A haircut is also unlikely in the principal repayment.