Much-needed good news for Anil Ambani as Reliance Infra slashes debt from Rs 3,831 cr to Rs 475 cr

Reliance Infrastructure Limited (Reliance Infra) on Wednesday announced that the Anil Ambani-led company has made a significant reduction in its standalone external debt, bringing the amount down from Rs 3,831 crore to Rs 475 crore.

The company's share price showed major movement as it was trading at Rs 252.15 a piece on the Bombay Stock Exchange (BSE), up 7 per cent as of 10.15 AM on September 18.

The Mumbai-headquartered company announced that Invent Assets Securitisation and Reconstruction Private Limited (Invent ARC), one of its lenders, has novated certain charged securities to recover its dues, resulting in a complete reduction of Invent ARC’s fund-based outstanding amount to zero.


Reliance Infra also confirmed that it has fully cleared its funded outstanding dues to key financial institutions, including Life Insurance Corporation of India, Edelweiss Asset Reconstruction Company Limited, ICICI Bank, Union Bank, and several other lenders. This substantial debt reduction marks a major achievement for the company.

Moreover, Reliance Infra also entered in a One Time Settlement (OTS) with Life Insurance Corporation of India (LIC) in settlement of the entire obligations with respect to the Non Convertible Debentures (NCDs) issued by the Company, in consideration of an amount of Rs 600 crore.

Further, it also said that company has settled and paid its entire obligations with Edelweiss with respect to the NCDs issued by the Company, in consideration of an amount of Rs 235 crore.

With the decrease in external debt liabilities, Reliance Infra's net worth is expected to stand at approximately Rs 9,041 crore, it said in a media release.