Reliance Infrastructure (RInfra) has signed a binding term sheet with Adani Transmission (ATL) for 100% stake sale of its transmission assets.
RInfra owns the country's first 100% private sector transmission project — Western Region System Strengthening Scheme (WRSSS) — B & C projects located in Maharashtra, Gujarat, Madhya Pradesh, and Karnataka. RInfra owns 74% in Parbati Koldam Transmission Company (PKTCL) located in Himachal Pradesh and Punjab in joint venture with Power Grid Corporation of India (PGCIL). All three transmission projects are completed and revenue-generating.
RInfra had consolidated debt of Rs 25,100.81 crore as on March 31. The sale is expected to be completed in the current financial year, ATL said in a separate press release. The acquisition will add around 3,521 circuit kilometres of transmission lines to Adani's assets. All assets are currently operating at an average availability of over 99.5%, Adani statement said.
RInfra said the transaction is in line with the strategic plan of monetising the non-core business and focusing on major growth areas like defence and engineering, procurement and construction business.
The transaction is in line with the strategic plan of monetising non-core business and focus on major growth areas like defence and EPC business. Monetisation of cement business has been completed and monetisation of roads and Mumbai power businesses are in advanced stage. The entire sale proceeds shall be utilised for debt reduction, RInfra said.
The proposed transaction is subject to due diligence, definitive documentation, applicable regulatory approvals and certain other conditions. Further announcements will be made at an appropriate stage, RInfra said, adding that SBI Capital Markets is acting as the financial advisors to RInfra for this transaction.
![]( "RInfra had consolidated debt of Rs 25,100.81 crore as on March 31. The sale is expected to be completed in the current financial year, ATL said in a separate press release. dh illustration")
Reliance Infrastructure (RInfra) has signed a binding term sheet with Adani Transmission (ATL) for 100% stake sale of its transmission assets.
RInfra owns the country’s first 100% private sector transmission project — Western Region System Strengthening Scheme (WRSSS) — B & C projects located in Maharashtra, Gujarat, Madhya Pradesh, and Karnataka. RInfra owns 74% in Parbati Koldam Transmission Company (PKTCL) located in Himachal Pradesh and Punjab in joint venture with Power Grid Corporation of India (PGCIL). All three transmission projects are completed and revenue-generating.
RInfra had consolidated debt of Rs 25,100.81 crore as on March 31. The sale is expected to be completed in the current financial year, ATL said in a separate press release. The acquisition will add around 3,521 circuit kilometres of transmission lines to Adani’s assets. All assets are currently operating at an average availability of over 99.5%, Adani statement said.
RInfra said the transaction is in line with the strategic plan of monetising the non-core business and focusing on major growth areas like defence and engineering, procurement and construction business.
The transaction is in line with the strategic plan of monetising non-core business and focus on major growth areas like defence and EPC business. Monetisation of cement business has been completed and monetisation of roads and Mumbai power businesses are in advanced stage. The entire sale proceeds shall be utilised for debt reduction, RInfra said.
The proposed transaction is subject to due diligence, definitive documentation, applicable regulatory approvals and certain other conditions. Further announcements will be made at an appropriate stage, RInfra said, adding that SBI Capital Markets is acting as the financial advisors to RInfra for this transaction.
RInfra owns the country's first 100% private sector transmission project — Western Region System Strengthening Scheme (WRSSS) — B & C projects located in Maharashtra, Gujarat, Madhya Pradesh, and Karnataka. RInfra owns 74% in Parbati Koldam Transmission Company (PKTCL) located in Himachal Pradesh and Punjab in joint venture with Power Grid Corporation of India (PGCIL). All three transmission projects are completed and revenue-generating.
RInfra had consolidated debt of Rs 25,100.81 crore as on March 31. The sale is expected to be completed in the current financial year, ATL said in a separate press release. The acquisition will add around 3,521 circuit kilometres of transmission lines to Adani's assets. All assets are currently operating at an average availability of over 99.5%, Adani statement said.
RInfra said the transaction is in line with the strategic plan of monetising the non-core business and focusing on major growth areas like defence and engineering, procurement and construction business.
The transaction is in line with the strategic plan of monetising non-core business and focus on major growth areas like defence and EPC business. Monetisation of cement business has been completed and monetisation of roads and Mumbai power businesses are in advanced stage. The entire sale proceeds shall be utilised for debt reduction, RInfra said.
The proposed transaction is subject to due diligence, definitive documentation, applicable regulatory approvals and certain other conditions. Further announcements will be made at an appropriate stage, RInfra said, adding that SBI Capital Markets is acting as the financial advisors to RInfra for this transaction.
Reliance Infrastructure (RInfra) has signed a binding term sheet with Adani Transmission (ATL) for 100% stake sale of its transmission assets.RInfra owns the country’s first 100% private sector transmission project — Western Region System Strengthening Scheme (WRSSS) — B & C projects located in Maharashtra, Gujarat, Madhya Pradesh, and Karnataka. RInfra owns 74% in Parbati Koldam Transmission Company (PKTCL) located in Himachal Pradesh and Punjab in joint venture with Power Grid Corporation of India (PGCIL). All three transmission projects are completed and revenue-generating.
RInfra had consolidated debt of Rs 25,100.81 crore as on March 31. The sale is expected to be completed in the current financial year, ATL said in a separate press release. The acquisition will add around 3,521 circuit kilometres of transmission lines to Adani’s assets. All assets are currently operating at an average availability of over 99.5%, Adani statement said.
RInfra said the transaction is in line with the strategic plan of monetising the non-core business and focusing on major growth areas like defence and engineering, procurement and construction business.
The transaction is in line with the strategic plan of monetising non-core business and focus on major growth areas like defence and EPC business. Monetisation of cement business has been completed and monetisation of roads and Mumbai power businesses are in advanced stage. The entire sale proceeds shall be utilised for debt reduction, RInfra said.
The proposed transaction is subject to due diligence, definitive documentation, applicable regulatory approvals and certain other conditions. Further announcements will be made at an appropriate stage, RInfra said, adding that SBI Capital Markets is acting as the financial advisors to RInfra for this transaction.