Reliance Infra completes sale of Delhi-Agra toll road to Cube Highways for ₹3,600 crore

The deal was announced in March 2019 with the signing of a definitive binding agreement between Reliance Infra and Cube Highways and Infrastructure III Pte Ltd

January 01, 2021 04:39 pm | Updated 04:39 pm IST - New Delhi

Representational image

Reliance Infra on Friday announced completion of sale of its Delhi-Agra (DA) toll road to Cube Highways and Infrastructure for ₹3,600 crore.

In a regulatory filing, Reliance Infrastructure Ltd said it has completed the sale of its 100% stake in DA Toll Road to Cube Highways and Infrastructure III Pte Ltd for an enterprise value over ₹3,600 crore.

The deal was announced in March 2019 with the signing of a definitive binding agreement between Reliance Infra and Cube Highways and Infrastructure III Pte Ltd.

Reliance Infra said the entire sale proceeds are being utilised for debt reduction.

Reliance Infra has reduced its total debt liabilities by 20% from the deal proceeds from ₹17,500 crore to ₹14,000 crore.

Shares of Reliance Infrastructure Ltd were trading 4.84% higher at ₹28.15 apiece on BSE.

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