ADAG led R-Infra to close 100% stake sale deal of Delhi-Agra Toll by Aug 2019

MUMBAI | AHMEDABAD-GANDHINAGAR | RAJKOT – In a press release submitted to the Indian Bourses on Thursday, Anil Dhirubhai Ambani led Indian Infra major Reliance Infra said of closing the 100% stake sale deal of Delhi-Agra toll by August 2019, of which the enterprise value is pegged at 36 billion (~3,600 crore) rupees.

The press release from the company said that, Reliance Infrastructure’s sale of Delhi Agra (DA) toll road to Cube Highways and Infrastructure III Pte. Ltd. will be close by the end of August 2019.

Reliance Infrastructure had signed a binding Share Purchase Agreement with Cube Highways for its 100% stake in DA toll road.

Reliance Infrastructure will receive Enterprise Value of Rs. 3,600 crore including equity of up to Rs. 1,700 crore. Reliance Infrastructure will utilise 100% of proceeds only for debt reduction.

With this single transaction of DA toll road, debt of Reliance Infrastructure will reduce by over 25% to less than Rs. 5,000 crore
Reliance Infrastructure has already applied for Commercial Operations Date (COD) to National Highways Authority of India (NHAI) for the project.

DA toll road collection period is until 2038 i.e. further 19 years to go.


On this milestone, ED and CEO, Reliance Infrastructure, Punit Garg, said,

“This sale will significantly reduce the debt of Reliance Infrastructure on its path to becoming a Zero Debt company. Reliance Infrastructure has once again proven its ability by efficiently operating the showpiece Indian infrastructure of the 180-km six lane DA toll road.” 


Cube Highways and Infrastructure III Pte Ltd. is a Singapore-based company formed by Global Infrastructure Fund – I Squared Capital and a wholly-owned subsidiary of the Abu Dhabi Investment Authority.

Reliance Infrastructure Ltd is one of the largest infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors such as Power, Roads and Metro Rail in the Infrastructure space and the Defence sector.

Reliance Infrastructure Ltd is a major player in providing Engineering and Construction (E&C) services for developing power, infrastructure, metro and road projects.

Reliance Infrastructure Ltd through its SPVs has executed a portfolio of infrastructure projects such as a metro rail project in Mumbai on build, own, operate and transfer (BOOT) basis; and eleven road projects with total length of about 1,000 kms on build, operate and transfer (BOT) basis.

Reliance Infrastructure Ltd is also a leading utility company having presence across the value chain of power businesses i.e. Generation, Transmission and Distribution.


For more details, please click the link, given here : https://buff.ly/2Jd5u76


Follow DATELINE GUJARAT On :-

FacebookGoogle+LinkedinTwitterYouTube 


SHARE THIS NEWS ON :-