RIL arm grants Rs 750 cr loan to Shapoorji Pallonji Company
Reliance Ventures, a 100% subsidiary of Reliance Industries Limited (RIL), has sanctioned a ₹750-crore loan facility to Sterling & Wilson Private Ltd, an unlisted Shapoorji Pallonji group company that undertakes contracts to construct data centres and solar parks, according to documents available with the registrar of companies.
The loan facility is structured in two tranches. The first tranche is a ₹410-crore loan and the second is a ₹340-crore loan. The two-year loan has been granted at an interest cost of 10.5% per annum and Sterling and Wilson will have to make bi-annual payments. The loan is backed by collateral such as land that belongs to Shapoorji Pallonji and Company.
