RInfra completes sale of Mumbai energy business to Adani Transmission

30 Aug 2018 Evaluate

Reliance Infrastructure (RInfra) has completed Rs 18,800 crore deal for sale of its Mumbai energy business to Adani Transmission, which will help the company to trim debt by two-thirds to Rs 7,500 crore. The deal involves the sale of the integrated power business which was struck in December last year.

This deal will help to cut the company’s overall debt to Rs 7,500 crore from the earlier Rs 22,000 crore and also will be a zero debt company by next year.

RInfra is one of the largest infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors such as Power, Roads and Metro Rail in the Infrastructure space and the Defence sector.

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