SPCPL repays Rs 12,450 crore to all its lenders to achieve an early OTR exit

Shaoorji Pallonji and Co has repayed Rs 12,450 Cr to all its lenders to achieve an early OTR exit according to an official press statement from the company. "SPCPL on 31st March repaid all its lenders Rs 12,450 Cr to achieve an early exit from the COVID One-Time-Resolution (OTR) plan" the statement said.

SPCPL’s OTR was unanimously implemented on 31st March 2021 by all Lenders of SPCPL. The resolution plan only sought a 2-year extension of timelines to repay lenders, and did not involve a single rupee of haircut for any lender.

The Lender’s consortium was led by State Bank of India in its capacity as the Facility Agent.


The SPCPL OTR has been India’s largest OTR and the possibly the first to get fully repaid within one year of implementation. The accelerated repayment of lenders was enabled by the Mistry family infusing over Rs 5,100 Cr
into the Company in the last year. SPCPL also achieved marquee monetizations worth Rs 3,750 Cr from two of its assets including Sterling Wilson Renewable Energy Limited and Eureka Forbes SPCPL is one of India’s oldest Engineering & Construction companies with diverse interests including in Real Estate and Oil & Gas. Its construction business has an order book in excess of Rs 30,000 Cr. The Real Estate franchise of the SP Group achieved over Rs 4,000 Cr of sales in FY22 despite the COVID pandemic.

“We are very happy to have repaid all our lenders ahead of plan.

"We expect this development to have a positive impact on the Group’s credit outlook" a company spokesperson said.