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Shapoorji Pallonji & Co. the construction arm of the Shapoorji Pallonji Group is in talks with banks to borrow about USD 300 million (roughly Rs. 25 billion). Three people who know about the discussions told Reuters that the money will be used to refinance or replace an earlier loan. The potential loan would be secured as it will be backed by shares of Afcons Infrastructure an engineering subsidiary of the Shapoorji Pallonji Group reported the news agency citing people aware of the development. The agency report also highlighted that the debt which Shapoorji Pallonji seeks to refinance belongs to the largest private bank in India HDFC Bank. How the company plans to secure the new loan  The firm may take the loan in Indian rupees. The loan would be backed by shares of Afcons Infrastructure (another group company) plus some of the group’s real‑estate properties. Two of the sources said the company hopes for an interest rate of around 15 per cent though the final terms have not been set. The debt being replaced ICRA data shows that in March 2022 Shapoorji Pallonji & Co. took a term loan of about Rs. 22.5 billion (around USD 263 million) from HDFC Bank. The new borrowing will pay off that earlier loan. No official comment yet When Reuters asked the company for details Shapoorji Pallonji & Co. did not respond. If the talks succeed the new funds will help the company manage its debts more smoothly by replacing the older loan with fresh financing under updated terms. Shares detail of Shapoorji Pallonji and Afcons Infra As Shapoorji Pallonji & Co. plans to use shares of Afcons Infrastructure as security to get a new loan for paying off old debts here’s a quick and easy look at how Afcons shares are doing in the stock market. On Thursday (3 July 2025) Afcons shares closed at Rs. 433 which is a small rise from the previous day’s close of Rs. 430.75. Since the company got listed on the stock market in November 2024 the share price has fallen by around 11.79 per cent. So far in 2025 the shares are down by 19.76 per cent but in the last one month they have gone up by 2.45 per cent. All-time highs and lows: The highest price Afcons shares ever reached was Rs 570 on 3 January 2025. The lowest price was Rs. 382.40 on 7 April 2025. As of Thursday’s closing Afcons Infrastructure’s total market value (market capitalisation) was about Rs. 15925 crore.