India’s Goswami Infratech, a Shapoorji Pallonji Group unit, is set to complete a 250 billion rupee bond issue by end-January to refinance existing debt. The two-year zero-coupon bond will be secured by the group’s stake in Tata Sons. This potential issuance aims to diversify funding sources and secure a lower coupon than its previous bond.
Astral shares drop 6% after demerger. What should investors do?
Astral shares fell nearly 6% on Monday after the company’s board approved the demerger of its chemicals business into a newly incorporated entity, Astral Chemie.