Shapoorji Eyes $1 Billion Debt Payment in Possible Tata Exit

India’s Shapoorji Pallonji Group plans to use some of the proceeds from a potential sale of its 18.4% stake in Tata Sons Pvt. to repay debt held by its infrastructure unit, according to people familiar with the matter.

Shapoorji is aiming to settle the outstanding 88.1 billion rupees ($1 billion) in bonds that were issued by Goswami Infratech Pvt. and mature in April next year, said the people, who asked not to be identified because the matter is private.