Reliance Infra cuts debt to Rs 4.7 Bn after settlements
ECONOMY & POLICY

Reliance Infra cuts debt to Rs 4.7 Bn after settlements

Anil Ambani controlled engineering, procurement and construction (EPC) company Reliance Infrastructure Ltd on said it had reduced its debt to Rs 4.75 billion from Rs 3.83 billion after settling dues with creditors.
Bad loan aggregator Invent Assets Securitisation and Reconstruction a creditor to the company, novated certain charged securities to recover its dues as a result, Invent ARC's entire fund based outstanding amount has been reduced to zero Reliance Infra said.
"Invent which had taken charge of some debt of the company has sold those securities to another investor which is why its outstanding to R Infra has come down," said a person familiar with the settlement. ET could not ascertain the amount of debt that had changed hands. Reliance Infra has also cleared its funded outstanding dues to Life Insurance Corporation of India (LIC), Edelweiss Asset Reconstruction Company Limited, ICICI Bank, Union Bank, and other lenders, the company said.
Edelweiss Asset Reconstruction Company Ltd was paid Rs 2.35 billion to settle total dues of Rs 3.85 billion with respect to NCDs of R Infra held by them at about a 39% haircut for the creditor. The one time settlement with Edelweiss will be completed by the end of the month, the company said. Similarly LIC was paid Rs 6.00 billion to settle dues of Rs 10 billion on NCDs held by the insurer, a 40% haircut on total dues, person cited above said.
The company did not give any details of settlement with Union Bank, ICICI and other unnamed lenders mentioned in the stock exchange filings. As a result of all these settlements, the company’s external debt liability is down to Rs 4.75 billion. Consequently, the net worth of the company will stand at Rs 90.41 billion, R Infra said.

Anil Ambani controlled engineering, procurement and construction (EPC) company Reliance Infrastructure Ltd on said it had reduced its debt to Rs 4.75 billion from Rs 3.83 billion after settling dues with creditors.Bad loan aggregator Invent Assets Securitisation and Reconstruction a creditor to the company, novated certain charged securities to recover its dues as a result, Invent ARC's entire fund based outstanding amount has been reduced to zero Reliance Infra said.Invent which had taken charge of some debt of the company has sold those securities to another investor which is why its outstanding to R Infra has come down, said a person familiar with the settlement. ET could not ascertain the amount of debt that had changed hands. Reliance Infra has also cleared its funded outstanding dues to Life Insurance Corporation of India (LIC), Edelweiss Asset Reconstruction Company Limited, ICICI Bank, Union Bank, and other lenders, the company said.Edelweiss Asset Reconstruction Company Ltd was paid Rs 2.35 billion to settle total dues of Rs 3.85 billion with respect to NCDs of R Infra held by them at about a 39% haircut for the creditor. The one time settlement with Edelweiss will be completed by the end of the month, the company said. Similarly LIC was paid Rs 6.00 billion to settle dues of Rs 10 billion on NCDs held by the insurer, a 40% haircut on total dues, person cited above said.The company did not give any details of settlement with Union Bank, ICICI and other unnamed lenders mentioned in the stock exchange filings. As a result of all these settlements, the company’s external debt liability is down to Rs 4.75 billion. Consequently, the net worth of the company will stand at Rs 90.41 billion, R Infra said.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Vedanta Metal Bazaar Expands to Global Markets

Vedanta Aluminium has expanded its digital e-commerce platform, Vedanta Metal Bazaar, to international markets, enabling overseas customers to order and purchase aluminium products online.The platform will now be available to buyers across Asia, Europe, Africa and the Americas, providing a digital gateway for export transactions with 24x7 access.In FY26, Vedanta Metal Bazaar processed transactions worth nearly $4.1 billion, or over Rs 380 billion, and fulfilled more than 23,000 orders. The platform is also used regularly by more than 550 MSMEs in India alongside large OEM customers.The export ..

Next Story
Infrastructure Urban

Ramky Infrastructure Q1 FY27 Revenue Rises 24.3%

Ramky Infrastructure Limited reported a 24.3% year-on-year increase in consolidated revenue from operations to Rs 471.2 crore for Q1 FY27, compared with Rs 3.79 billion in the corresponding quarter of FY26.Standalone revenue from operations rose 27.5% YoY to Rs 4.51 billion from Rs 3.54 billion, while total standalone income increased 35% to Rs 5.32 billion.Consolidated profit before tax stood at Rs 540.9 million during the quarter. The company highlighted a sharp sequential improvement compared with a pre-exceptional loss of Rs 190.1 million in Q4 FY26.Two of the three projects awarded during..

Next Story
Technology

LTTS Launches AgenticIQ AI Platform for Engineering

L&T Technology Services (LTTS) has launched AgenticIQ, an end-to-end agentic AI platform designed for engineering and manufacturing organisations.The platform is aimed at helping enterprises move beyond isolated AI pilots by enabling autonomous, multi-agent workflows across engineering, product development, manufacturing, industrial operations and customer experience.AgenticIQ is built on LTTS’ Engineering Intelligence portfolio and converts existing engineering capabilities into specialised, reusable AI agents. Its planning-first architecture is embedded into engineering and production ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement