Reliance Infra completes sale of Delhi-Agra Toll Road
ROADS & HIGHWAYS

Reliance Infra completes sale of Delhi-Agra Toll Road

Reliance Infra announced on Friday that the sale of its Delhi-Agra Toll Road to Cube Highways and Infrastructure is complete. 
In a regulatory filing, Reliance Infrastructure Ltd said it has completed the sale of its 100% stake in DA Toll Road to Cube Highways and Infrastructure III Pte Ltd for an enterprise value over Rs 3,600 crore.
The deal was announced in March 2019 with the signing of a definitive binding agreement between Reliance Infra and Cube Highways and Infrastructure III Pte Ltd. Reliance Infra said the entire sale proceeds are being utilised for debt reduction.
Reliance Infra stocks went up 4.8% today on the back of the completion of the sale.

Reliance Infra announced on Friday that the sale of its Delhi-Agra Toll Road to Cube Highways and Infrastructure is complete. In a regulatory filing, Reliance Infrastructure Ltd said it has completed the sale of its 100% stake in DA Toll Road to Cube Highways and Infrastructure III Pte Ltd for an enterprise value over Rs 3,600 crore.The deal was announced in March 2019 with the signing of a definitive binding agreement between Reliance Infra and Cube Highways and Infrastructure III Pte Ltd. Reliance Infra said the entire sale proceeds are being utilised for debt reduction.Reliance Infra stocks went up 4.8% today on the back of the completion of the sale.

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Building Material

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Prism Johnson's cement division goes live with Ramco ERP Suite

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Infrastructure Urban

Indian shadow bank Shriram Finance gets record $1.28 billion loan

Shriram Finance Ltd. is reported to have borrowed $1.28 billion in a multi-currency social loan, marking the largest offshore facility ever undertaken by an Indian shadow lender. According to a press release issued by Shriram, the deal is divided across the dollar, euro, and dirham. Sources familiar with the transaction, who wished to remain anonymous, indicated that the tenors in the multi-tranche deal range from three to five years. This loan adds to the surge of offshore debt sales by Indian shadow lenders this year, a trend prompted by the Reserve Bank of India's tightening of rules in Nov..

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