Reliance Infrastructure on Wednesday announced that the company has significantly reduced its standalone external debt, bringing the amount down from Rs 3,831 crore to Rs 475 crore. Consequently, the Anil Ambani-led firm said that the net worth of the company will stand at around Rs 9,041 crore.
In a regulatory filing, Reliance Infrastructure said that Invent Assets Securitisation and Reconstruction Private Limited, a lender to the company, has novated certain charged securities to recover its dues. This, it added, resulted in Invent ARC’s entire fund based outstanding amount reducing to zero.
Additionally, Reliance Infrastructure has also cleared its funded outstanding dues to Life Insurance Corporation of India, Edelweiss Asset Reconstruction Company Limited, ICICI Bank, Union Bank, and other lenders.
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In a separate filing on the exchanges, the company said that it has completed the One Time Settlement (OTS) with LIC in settlement of the entire obligations with respect to the Non Convertible Debentures issued by the company, in consideration of an amount of Rs 600 crore.
Further, it also informed that the company has settled and paid its entire obligations with Edelweiss Asset Reconstruction Company Limited (Edelweiss) with respect to the Non Convertible Debentures issued by the company, in consideration of an amount of Rs 235 crore.
From: financialexpress
Financial News
