Shapoorji Pallonji Group is in advanced discussions with major global investment firms including Cerberus Capital Management, Farallon Capital Management, and Ares Management Corp. regarding a proposed rupee debt offering worth 143 billion rupees ($1.5 billion), according to people familiar with the matter.

The proposed bond represents a substantial financing round for the Indian conglomerate, which appears to be tapping into international investor appetite for emerging market debt. The size of the offering suggests Shapoorji Pallonji is pursuing significant expansion or restructuring initiatives that require substantial capital.

For the investment firms involved, participation in this deal could provide attractive returns given the scale of the offering. The involvement of Cerberus Capital Management, Farallon Capital Management, and Ares Management Corp. signals confidence in the Indian company's creditworthiness despite current market uncertainties.