India's SP Group unit taps over $460 million in rupee-denominated debt to repay old loans

SP Group's Eqyizen unit is set to raise over $460 million in rupee-denominated debt. According to Hindu BusinessLine, the funds will be used to meet an obligation of around ₹3,500 crore for debt raised by another group subsidiary, Porteast Investment, due in May 2025.

HyFun Foods, a frozen-foods maker and supplier to McDonald's and KFC, plans to raise up to 20 billion rupees ($207.7 million) in an initial public offering by late 2028. As per Business Recorder, the company's CEO, Haresh Karamchandani, stated that preparations for the IPO will begin in mid-2027. The funds raised will be used to fund expansion as HyFun increases capacity and focuses on the domestic market.

HyFun Foods expects its revenue to more than double to nearly 35 billion rupees by fiscal year 2028. The company currently exports to over 40 countries, generating about three-fourths of its revenue from abroad, but expects this share to decrease to about half within five years as local demand rises.

Brief written by urgent.news from Hindu BusinessLine, Business Recorder — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.