Oracle Financial Services Shares Drop 6.5% on Global Debt Concerns and Market Pressures

Oracle Financial Services Software shares fell more than 6.5% on September 21, slipping to an intraday low of ₹11,061 on the NSE.

The stock had opened at ₹11,787, compared with its previous close of ₹11,896. The decline came as investors digested reports of stress in debt tied to an Oracle-leased data centre project in New Mexico.

The Financial Times report cited by Livemint said about $18 billion of loans linked to the project had come under pressure. Syndicate banks including Santander and Jefferies were reportedly quoting the loans at 89–91 cents on the dollar.

At the centre of the report is Project Jupiter, a 1,400-acre data centre campus in Doña Ana County. The site forms part of Oracle’s broader agreement with OpenAI to provide computing capacity for artificial intelligence workloads.

Efforts to distribute the project debt to a wider pool of investors had slowed, according to the report, as concerns grew around Oracle’s leverage and credit profile. Banks were consequently left holding more of the project-related debt than originally expected.

Oracle’s corporate credit rating is currently one notch above junk status after S&P downgraded the company in July. The company has also been increasing spending on AI infrastructure, drawing closer attention to its overall debt position.

Local opposition to Project Jupiter has added another layer of uncertainty. Concerns raised around the development include its possible impact on water availability and air quality in the region.

There was no separate statement from Oracle Financial Services Software in the cited report linking its Indian business directly to the New Mexico project or the loans associated with it.

That distinction matters because OFSS is a separately listed Indian company, while the debt concerns reported by the Financial Times relate to Oracle-linked infrastructure in the US.

Even after Monday’s fall, OFSS shares remained significantly higher over longer periods. The stock was up 44.60% in 2026, 23.26% over the past year and 161.28% over three years. Its five-year return stood at 138.09%.

Over the previous week, the stock had gained 5.50%, though it was down 5.19% over one month.

The September 21 decline therefore came against the backdrop of wider concerns around Oracle’s AI infrastructure financing rather than any newly disclosed operational or financial development at Oracle Financial Services Software itself.