The Shapoorji Pallonji Group is seeking a two-month extension on the repayment of ₹14,300 crore in bonds, originally due on April 30, 2023. This request arises from challenges posed by foreign exchange volatility and rising hedging costs, which have disrupted the group's refinancing plans. The group had intended to raise approximately ₹25,000 crore through a combination of offshore and domestic funding to refinance this debt. However, the surge in currency hedging costs, exacerbated by recent actions from the Reserve Bank of India to tighten access to the offshore non-deliverable forward (NDF) market, has presented significant hurdles. Despite these challenges, bondholders have been approached informally and are reportedly supportive of the extension, as the delay is attributed to market conditions rather than issues specific to the company. Deutsche Bank is actively conducting investor roadshows in Asia to gauge interest, with demand coming from a variety of sources including foreign funds and domestic institutions.