Reliance Infra Sells Reliance Centre in Mumbai to Yes Bank for Rs 1,200 Crore
The transaction value is Rs 1,200 crore, it said. Entire proceeds from the sale of Reliance Centre is utilized only to repay the debt of Yes Bank, it said. A company official said, with this transaction RInfra's exposure of Yes Bank has been reduced from Rs 4,000 crore to Rs 2,000 crore and the company is committed to be a debt-free company by 2021.
New Delhi, April 1: Anil Ambani-backed Reliance Infrastructure on Thursday announced sale of Reliance Centre, Mumbai to Yes Bank for Rs 1,200 crore.
With this, Reliance Infrastructure (RInfra) has closed three major transactions in the last 90 days including sale of a road asset.
"RInfra and YES Bank Limited (YES Bank) announced a sale transaction of Reliance Centre, Santacruz, Mumbai to YES Bank," the company said in a statement. Mukesh Ambani, Reliance Industries Limited Chairman, Says ‘India Going To Be Epicentre of Global Growth, Transformation’.
The transaction value is Rs 1,200 crore, it said. Entire proceeds from the sale of Reliance Centre is utilized only to repay the debt of Yes Bank, it said. A company official said, with this transaction RInfra's exposure of Yes Bank has been reduced from Rs 4,000 crore to Rs 2,000 crore and the company is committed to be a debt-free company by 2021.