Reliance Infra Debt-Free By FY21

Reliance Infrastructure Chairman Anil Ambani said the company will be completely debt-free this financial year. RInfra, which is sitting on a debt of over Rs 6,000 crore, has been working towards monetising its assets to reduce debt. Addressing the company’s 91st annual shareholders meeting through an online platform, Ambani said, “RInfra will be a debt-free company this year.” Ambani further said RInfra has around Rs 60,000 crore of receivables stuck in regulatory and arbitration matters which are pending for 5-10 years. In 2018, the company sold its Mumbai energy business to Adani Transmission for nearly Rs 18,800 crore, which reduced its debt to nearly Rs 7,500 crore.  In January this year, the company said it had received an in-principle approval from the National Highways Authority of India (NHAI) for sale of its Delhi-Agra toll road to Singapore-based Cube Highways and Infrastructure for Rs 3,600 crore. According to the company, the deal is on track.