Anil Ambani group plans $3.2-bn asset sales to pare big debt

Ambani is waging a war on debt. He said on June 11 that his Reliance Group repaid Rs 350 billion in the past 14 months through asset disposals.

Indian tycoon Anil Ambani plans to raise about Rs 217 billion  ($3.2 billion) by selling assets from roads to radio stations in a bid to cut debt.

The breakdown is like this, according to the group spokesman:

Reliance Infrastructure Ltd. is seeking Rs 90 billion from the sale of nine road projects.

Reliance Capital Ltd. aims to raise Rs 12 billion  by selling its radio unit, and Rs 115 billion  from monetizing its holdings in the financial business.

Ambani is waging a war on debt. He said on June 11 that his Reliance Group repaid Rs 350 billion in the