Reliance Infra sells HQ in Mumbai’s Santacruz to YES Bank for Rs 1200 cr
Reliance Infrastructure Limited sold on Thursday its headquarters in Mumbai to YES Bank for Rs 1,200 crore. The bank will convert the building as its corporate headquarters.
The entire proceeds from the sale of Reliance Centre in Santacruz will be utilised to repay YES Bank’s debt. With this announcement, Reliance Infrastructure has sold three major assets since January. It sold the Delhi-Agra toll road to Cube Highways and Infrastructure for an enterprise value of Rs.3,600 crore. It then sold is entire 74 per cent equity stake in in Parbati Koldam Transmission Company Limited to India Grid Trust for an enterprise value of Rs 900 crore.
YES Bank has reduced its exposure to Reliance Infrastructure by half to Rs 2,000 crore.
Reliance Infrastructure develops projects through Special Purpose Vehicles (SPVs) in power, roads and infrastructure, said news agency IANS.
