Reliance Infra cuts debt to Rs 4.7 Bn after settlements
ECONOMY & POLICY

Reliance Infra cuts debt to Rs 4.7 Bn after settlements

Anil Ambani controlled engineering, procurement and construction (EPC) company Reliance Infrastructure Ltd on said it had reduced its debt to Rs 4.75 billion from Rs 3.83 billion after settling dues with creditors.
Bad loan aggregator Invent Assets Securitisation and Reconstruction a creditor to the company, novated certain charged securities to recover its dues as a result, Invent ARC's entire fund based outstanding amount has been reduced to zero Reliance Infra said.
"Invent which had taken charge of some debt of the company has sold those securities to another investor which is why its outstanding to R Infra has come down," said a person familiar with the settlement. ET could not ascertain the amount of debt that had changed hands. Reliance Infra has also cleared its funded outstanding dues to Life Insurance Corporation of India (LIC), Edelweiss Asset Reconstruction Company Limited, ICICI Bank, Union Bank, and other lenders, the company said.
Edelweiss Asset Reconstruction Company Ltd was paid Rs 2.35 billion to settle total dues of Rs 3.85 billion with respect to NCDs of R Infra held by them at about a 39% haircut for the creditor. The one time settlement with Edelweiss will be completed by the end of the month, the company said. Similarly LIC was paid Rs 6.00 billion to settle dues of Rs 10 billion on NCDs held by the insurer, a 40% haircut on total dues, person cited above said.
The company did not give any details of settlement with Union Bank, ICICI and other unnamed lenders mentioned in the stock exchange filings. As a result of all these settlements, the company’s external debt liability is down to Rs 4.75 billion. Consequently, the net worth of the company will stand at Rs 90.41 billion, R Infra said.
Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

Anil Ambani controlled engineering, procurement and construction (EPC) company Reliance Infrastructure Ltd on said it had reduced its debt to Rs 4.75 billion from Rs 3.83 billion after settling dues with creditors.Bad loan aggregator Invent Assets Securitisation and Reconstruction a creditor to the company, novated certain charged securities to recover its dues as a result, Invent ARC's entire fund based outstanding amount has been reduced to zero Reliance Infra said.Invent which had taken charge of some debt of the company has sold those securities to another investor which is why its outstanding to R Infra has come down, said a person familiar with the settlement. ET could not ascertain the amount of debt that had changed hands. Reliance Infra has also cleared its funded outstanding dues to Life Insurance Corporation of India (LIC), Edelweiss Asset Reconstruction Company Limited, ICICI Bank, Union Bank, and other lenders, the company said.Edelweiss Asset Reconstruction Company Ltd was paid Rs 2.35 billion to settle total dues of Rs 3.85 billion with respect to NCDs of R Infra held by them at about a 39% haircut for the creditor. The one time settlement with Edelweiss will be completed by the end of the month, the company said. Similarly LIC was paid Rs 6.00 billion to settle dues of Rs 10 billion on NCDs held by the insurer, a 40% haircut on total dues, person cited above said.The company did not give any details of settlement with Union Bank, ICICI and other unnamed lenders mentioned in the stock exchange filings. As a result of all these settlements, the company’s external debt liability is down to Rs 4.75 billion. Consequently, the net worth of the company will stand at Rs 90.41 billion, R Infra said.

Next Story
Real Estate

Colliers India Transacts 207,000 sq ft office space at Embassy TechVillage

Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, announced that it has signed an Agreement to Lease (‘ATL’) with global cyber security company Rubrik at Embassy TechVillage in Bengaluru.Colliers, a leading global diversified professional services company, specialising in commercial real estate services, engineering consultancy and investment management facilitated the transaction for Rubrik.Located on Bengaluru’s Outer Ring Road, Embassy TechVillage is one of Embassy REIT’s flagship office parks which offers world-class office spaces, ..

Next Story
Infrastructure Urban

Ensemble Infrastructure India Appoints Suman Saha as Director of Design

Ensemble Infrastructure India Ltd, a leading workplace design and build fit-out company, has appointed Suman Saha as its new Director of Design. With 25 years of experience in the industry, Suman is recognized for his innovative approach and excellence in design leadership.Working closely with the CEO, Suman’s appointment will enhance the company’s design communication across multiple touchpoints, ensuring smooth collaboration between clients, designers, and execution teams for superior project outcomes. Under his guidance, Ensemble will focus on creating workspaces and design labs that em..

Next Story
Products

Ribbon Vanity by Küche7: Fluid Design Meets Everyday Elegance

Küche7, pioneers in luxury stainless steel kitchens, have unveiled the Ribbon Vanity, a graceful creation that transforms bathroom spaces with its soft, flowing design and understated sophistication. Inspired by the fluid form of a ribbon, this vanity combines smooth finishes, clean lines, and gentle curves, offering a timeless aesthetic that seamlessly complements diverse interior styles.Available in a refined blush pink hue, the Ribbon Vanity effortlessly merges functionality with elegance. With thoughtfully designed storage options, it ensures that bathroom essentials are neatly organised ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000