India’s Shapoorji Pallonji Group is seeking a three to six month delay in repaying 35 billion rupees ($365 million) due Sept. 30 on a zero-coupon bond issued by Porteast Investment, people familiar with the matter said. Proceeds from financing deals completed in July were intended to service Porteast’s bond, but were diverted to other uses.

The extension would buy SP Group time as its outlook improves ahead of a potential Tata Sons listing. SP Group owns a 18.4% minority stake in Tata Sons, used as collateral for billions of dollars in borrowing. Tata Sons is moving ahead with a stock listing and extending its chairman’s term by five years, despite opposition from the founding family’s patriarch.

SP Group said it is ready to work with Tata Sons, suggesting tensions between two of India’s oldest business families may be easing. Talks with investors in Singapore were arranged by Deutsche Bank, with lenders to receive a consent fee. Porteast raised $3.4 billion last year through zero-coupon bonds at a 19.75% annual yield.