After SC rap, DMRC launches Rs 7,100 crore rights issue for RInfra dues
The Delhi Metro Rail Corporation (DMRC) on Thursday launched a rights issue to raise Rs 7,131 crore from its existing shareholders – the Centre and the Delhi government, which own 50 per cent of the company each – to put an end to its tussle with Reliance Infrastructure (RInfra).
The decision was taken at a meeting of the company’s board on Tuesday, a day after the Supreme Court cracked the whip on the urban transporter for repeatedly failing to pay Delhi Airport Metro Express (DAMEPL), a RInfra subsidiary, Rs 4,500 crore worth of arbitral award dues.
The issue will close on January 11, and DMRC has asked both its shareholders to subscribe equally to the equity share capital, which works out to Rs 3,565.64 crore each.
