Anil Ambani’s Reliance Infra jumps 5% as SC upholds arbitration award

MUMBAI: Shares of Reliance Infrastructure, part of Anil Ambani’s Reliance Group, hit its upper circuit limit of 5 per cent to Rs 74.20 today after the Supreme Court upheld the arbitration award won by the company against the Delhi Metro Rail Corporation.

The company had won an arbitration award of Rs 4,600 crore including interest accrued. The Supreme Court’s verdict will bring the much-needed relief to the debt-laden group as it can utilize the proceeds for repayment of its existing debt.

Reliance Infra had won an arbitration case against DMRC after running into dispute over the operation of the Airport metro route in Delhi that was constructed and operated by the company.


Reliance Infra currently has a consolidated debt of Rs 14,260 crore and net debt of Rs 3,808 crore. The company has recently hinted at efforts to become debt free by March 2022.

In July, The Hindu BusinessLine had reported that the company is in talks with Brookfield, Apollo Global and CDPQ to sell its Pune-Satara toll road.