Anil Ambani’s debt-laden Reliance Infrastructure sells Santacruz centre to YES Financial institution

Picture Supply : PTI (FILE)

Reliance Infrastructure sells Santacruz centre to YES Financial institution

Reliance Infrastructure Restricted and YES Financial institution Restricted introduced a sale transaction of Reliance Centre, Santacruz, Mumbai to YES Financial institution. The transaction worth is Rs 1,200 crore.

Total proceeds from the sale of Reliance Centre, Santacruz is utilized solely to repay the debt of YES Financial institution. Reliance infrastructure restricted has decreased its publicity by 50 per cent within the final 90 days.

Rinfra has closed three main transactions within the final 90 days specifically sale of highway property — Delhi Agra Toll Highway, Transmission Asset-Parbati Koldam Transmission Firm restricted and sale of Reliance Centre, Santacruz.

Rinfra publicity of YES Financial institution has been decreased from Rs four,000 crore to Rs 2,000 crore. Rinfra is dedicated to be a debt free firm in 2021. YES Financial institution plans to make use of the constructing as its company headquarters.

Reliance Infrastructure Restricted (RInfra) is without doubt one of the largest infrastructure firms, creating initiatives by means of varied Particular Objective Autos (SPVs) in a number of excessive progress sectors reminiscent of Energy, Roads and Metro Rail within the Infrastructure area and the Defence sector.

RInfra is a significant participant in offering Engineering and Development (E&C) companies for creating energy, infrastructure, metro and highway initiatives.

RInfra by means of its SPVs has executed a portfolio of infrastructure initiatives reminiscent of a metro rail venture in Mumbai on construct, personal, function and switch (BOOT) foundation; 9 highway initiatives on construct, function and switch (BOT) foundation.

RInfra can also be a number one utility firm having presence throughout the worth chain of energy companies, i.e. Technology and Distribution.

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