Reliance Infrastructure announced that Parbati KoldamTransmission Company has ceased to be the subsidiary of the Company from 08 January 2021, on account of transfer of entire 74% equity shares held by the Company to India GridTrust (IndiGrid).

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Reliance Infrastructure announced that Delhi-Agra (DA) Toll Road has ceased to be the subsidiary of the Company from 31 December 2020 on account of transfer of 100% shares held by the Company to Cube Highways and Infrastructure III for an enterprise value over Rs 3600 crore.

The deal was announced in March 2019 with the signing of a definitive binding agreement between RInfra and Cube Highways and Infrastructure III and has now been completed with transfer of shares of the DA Toll Road and receipt of sale consideration.

Cube Highways and Infrastructure III is a Singapore-based companyformed by Global Infrastructure Fund - I Squared Capital and a wholly-owned subsidiary of the Abu Dhabi Investment Authority.

The total transaction value is over Rs. 3,600 crore. The entire sale proceeds are being utilized for debt reduction.

RInfra has reduced its total debt liabilities by ~20% from the dealproceeds.

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Reliance Infrastructure announced that India Ratings and Research has reaffirmed the rating to “IND D” from 'IND D - Issuer not co-operating' in respect of Long Term, Short Term Bank Facilities and Non Convertible Debentures of the Company.

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Reliance Infrastructure announced that CARE has reaffirmed the rating to “CARE D” from 'CARE D - Issuer not co-operating' in respect of Long Term, Short Term Bank Facilities and Non-Convertible Debentures of the Company.

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