Reliance Infra completes Rs 18,800 cr Mumbai power business sale to Adani
Ambani said the deal will help cut the company's overall debt to Rs 7,500 crore from the earlier Rs 22,000 crore and also added that it is planning to be a zero debt company by next year. The company had called a board meet today to approve the transfer of Mumbai power business to Adani Transmission, after receiving the regulatory approvals.
Last week, Reliance Infrastructure had defaulted on payment of redemption of non-convertible debentures (NCDs) amounting to Rs 133.38 crore. Image source: PTI