The Shapoorji Pallonji Group, controlled by billionaire Shapoor Mistry, is weighing its asset sales including a controlling stake in its flagship engineering firm that could raise USD2 billion.
The company is reportedly acquiring advisor support to seek a buyer for its holdings in Afcons Infrastructure Ltd; a Mumbai-based infrastructure company. According to inside sources, the group is looking to sell some ports.
Though not disclosed in full details, the Gopalpur Port on the east coast of India could be among the assets SP Group is looking to sell.
Considerations are still at an early stage and SP Group may decide to keep the assets for longer.
SP Group’s flagship infrastructure construction firm Afcons Infrastructure is also the contractor of the Thilamale’ Bridge project currently in progress at Male’ City.