Reliance Infrastructure has signed of a binding term sheet with Adani Transmission for 100% stake sale of its Transmission Assets. The entire sale proceeds shall be utilized for debt reduction. The transaction is in line with the strategic plan of monetizing non-core business and focus on major growth areas like Defence and EPC business.
Reliance Infrastructure is the largest power distribution licensee in Mumbai, with 25 years license to distribute electricity in its licensed distribution areas spread over 400 Sq. Kms. in the suburbs and surrounding areas of Mumbai, and supplying power to around 29 lakh consumers.
