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SP group to raise Rs 10,000 cr from asset sale, meet debt repayment target

Group puts textile land in Karnataka on sale; it had earlier sold its stake in Eureka Forbes and in renewable power firm Sterling and Wilson

Shapoorji Pallonji
Premium

Dev Chatterjee Mumbai
After selling its stake in consumer durable firm, Eureka Forbes and in renewable power firm, Sterling and Wilson Solar, the Shapoorji Pallonji group has put its textile unit at Gokak in Karnataka on sale and will be able to meet its target to raise Rs 10,000 crore from asset sales by next March.

The sale of Eureka Forbes to private equity firm Advent International will result in a net inflow of Rs 3,000 crore to the group flagship, Shapoorji Pallonji Construction Pvt Ltd. The group is also selling part of its real estate portfolio including land bank at Gokak textile

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