India’s Shapoorji Seeks to Delay Paying $1.5 Billion of Debt

Shapoorji Pallonji Group, the Indian conglomerate behind the nation’s biggest-ever private credit deal, is trying to delay paying a separate debt, people familiar with the matter said, underscoring mounting strains amid volatile markets.

The company, controlled by billionaire Shapoor Mistry, has asked investors to let it repay 143 billion rupees ($1.5 billion) of zero-coupon notes at its unit Goswami Infratech Pvt. at the end of June instead of the current April 30 deadline, according to the people, who asked not to be identified as the discussions are private.