Reliance Infra to complete sale of Delhi-Agra toll roadway by August-end

Reliance InfrastructureNSE -2.38 % Thursday said the sale of its entire stake in the Delhi-Agra Toll Roadway to Singapore-based Cube Highways will be completed by the end of August 2019.

Reliance Infrastructure had signed a binding share purchase agreement with Cube Highways for its 100 per cent stake in Delhi-Agra toll road for Rs 3,600 crore.

Reliance InfrastructureNSE -2.38 % Thursday said the sale of its entire stake in the Delhi-Agra Toll Roadway to Singapore-based Cube Highways will be completed by the end of August 2019.

Reliance Infrastructure had signed a binding share purchase agreement with Cube Highways for its 100 per cent stake in Delhi-Agra toll road for Rs 3,600 crore.

“Reliance Infrastructure will receive enterprise value of Rs 3,600 crore including equity of up to Rs 1,700 crore,” the company said inĀ ..

The downgrade came barely a week after the Anil Ambani-led company’s auditors raised red flags over its financial results as well as “significant doubt” over the group’s ability to continue as a going concern.

Reliance Infrastructure had reported a net loss of Rs 3,301 crore for the quarter ended March 31 on a consolidated basis. The company had recorded a profit of Rs 133.66 crore in the corresponding quarter of the previous financial year.

Get Best Stock Future Tips – Click Here
Close Menu