 "The Anil Ambani-owned firm on Wednesday announced the completion of its Mumbai power distribution business sale to Adani Transmission for Rs 188 billion")
After completing the sale of one of its marquee assets, the Anil Ambani-promoted Reliance Infrastructure (RInfra) is hoping to turn into a zero-debt company. It is riding on proceeds from the Mumbai distribution deal and expects cash flows from regulatory assets and arbitration cases.
On Thursday, it announced the completion of its Mumbai power distribution business sale to Adani Transmission for Rs 188 billion. The deal also marks the entry of the Adani group into the power distribution business.
“RInfra’s gross debt will be reduced from about Rs 220 billion to Rs 75 billion, a reduction of 65 per cent
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