01 Jan 2021
Reliance Infra completes sale of Delhi-Agra Toll Road
Reliance Infra announced on Friday that the sale of its Delhi-Agra Toll Road to Cube Highways and Infrastructure is complete.
In a regulatory filing, Reliance Infrastructure Ltd said it has completed the sale of its 100% stake in DA Toll Road to Cube Highways and Infrastructure III Pte Ltd for an enterprise value over Rs 3,600 crore.
The deal was announced in March 2019 with the signing of a definitive binding agreement between Reliance Infra and Cube Highways and Infrastructure III Pte Ltd. Reliance Infra said the entire sale proceeds are being utilised for debt reduction.
Reliance Infra stocks went up 4.8% today on the back of the completion of the sale.