Anil Ambani-backed Reliance Infrastructure on Thursday announced a sale transaction of Reliance Centre, Santacruz, Mumbai to YES Bank.
“Reliance Infrastructure and YES Bank Limited (YES Bank) announced a sale transaction of Reliance Centre, Santacruz, Mumbai to YES Bank,” the company said in an exchange filing.
The transaction value is ₹1,200 crore. Entire proceeds from the sale of Reliance Centre is utilized only to repay the debt of Yes Bank, the company added.
With this, Reliance Infrastructure has closed three major transactions in the last 90 days including sale of a road asset – Delhi Agra toll road, transmission asset – Parbat Koldfam Transmission Company Limited and sale of Reliance Centre, Santacruz.
A company official told PTI that with this transaction, Reliance Infrastructure’s exposure of Yes Bank has been reduced to ₹2,000 crore from ₹4,000 crore and the company is committed to be debt-free by 2021.
