Wealth managers are offering high-net-worth individuals three-year, zero-coupon non-convertible debentures issued by Shapoorji Pallonji Group entity Equizen Investments, with a minimum ticket size of Rs 10 crore. The unlisted, unrated securities yield around 18.95 percent annually and are part of the group's Rs 21,350-crore refinancing. The debt is backed by a pledge on Tata Sons shares and other collateral, with a loan-to-value ratio of 22.1 percent.
Wealth managers pitch Shapoorji Pallonji debt to HNIs
Source: Moneycontrol