Reliance Infrastructure (RInfra ) has paid all outstanding electricity duty and other taxes amounting to Rs 2,640 crore to the Maharashtra Government on closure of deal to sell its Integrated Mumbai Power Distribution Business to Adani Transmission (ATL). The company had announced successful completion of the sale of its 100% shareholding in Integrated Mumbai Power Distribution Business to Adani Transmission on August 29, 2018.
The total transaction value of this transformational deal was Rs 18,800 crore. RInfra has reduced debt liabilities by Rs 13,800 crore from the deal proceeds. Regulatory Assets under Approval of Rs 5,000 crore will flow entirely to Reliance Infrastructure making the Company debt-free in 2019. This was the largest ever debt reduction for any company in power sector in India. With this deal, the company is set to achieve top-end ratings.
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.
Company Name | CMP |
---|---|
NTPC | 358.90 |
Tata Power | 436.80 |
Power Grid Corp | 309.45 |
Adani Power | 756.65 |
Torrent Power | 1516.25 |
View more.. |