Reliance InfrastructureNSE -1.32 % has entered into an agreement with Cube Highways for sale of 100% stake in Delhi-Agra Toll Road for an enterprise value of over Rs 3,600 crore, the Anil Ambani-led company said Thursday.
Reliance InfrastructureNSE -1.46 % said that proceeds from the Delhi-Agra Toll road sale to be used for debt reduction.
“With this transaction, debt to reduce by over 25%, to less than Rs 5,000 crore against a net-worth of Rs 23,700 crore,” Reliance Infrastructure said.
