Anil Ambani's Reliance Infra Clears All Debt
Reliance Infra cleared its funded outstanding dues to LIC, Edelweiss ARC, ICICI Bank, Union Bank, and other lenders
Anil Ambani's Reliance Infrastructure has informed the exchanges that it has cleared around 90 per cent of its debt and the company's net worth stood at Rs 9041 crore. In comparison, the market cap of the company stood at around Rs 8500 crore going by the current market price of the company.
Reliance Infra said that Invent Assets Securitisation and Reconstruction Private Limited, a lender to the Company, has novated certain charged securities to recover its dues. As a result, Invent ARC's entire fund-based outstanding amount has been reduced to Zero. The company said its standalone external debt is down to just Rs 475 crores from earlier Rs 3,831 crores.
Additionally, Reliance Infra has cleared its funded outstanding dues to Life Insurance Corporation of India, Edelweiss Asset Reconstruction Company Limited, ICICI Bank, Union Bank, and other lenders.
The company’s external debt liability is down to Rs 475 crore. Consequently, the net worth of the company will stand at Rs 9,041 crore, Reliance Infra announced.
