Reliance Energy, an ADAG company, today said that it would transfer its infrastructure projects to a separate, wholly-owned subsidiary for which it has already obtained the approval of the board. The company, in a release issued to the Bombay Stock Exchange this morning, said the board has approved a proposal to further unlock overall shareholder value by transferring its infrastructure projects to a separate 100% subsidiary, subject to compliance with applicable laws. The infrastructure projects include roads, bridges, metro rail and real estate. The announcement comes on the heels of REL's plans to list another subsidiary, Reliance Power, to raise an estimated Rs 12,000 crore. REL has already transferred its power projects to Reliance Power.
