Reliance Infrastructure is planning to monetise its corporate office ‘Reliance Center’ located in Santacruz East, Mumbai, to pare its debt.
“Reliance Infrastructure will continue to own the premises and monetisation will be by way of long-term lease. The company will utilise 100% of the proceeds for debt reduction,” the company said in a statement.
The company is in talks with a group of global private equity firms, including Blackstone, to raise about ₹3,000 crore from the asset monetisation plan.
Reliance Center is spread across 6.95 lakh square feet area on a plot of 15,514 sq m.
The office is adjacent to Mumbai’s Western Express Highway and is in proximity to Chhatrapati Shivaji International Airport Terminal, the Bandra-Kurla-Complex business district, and close to the upcoming Santacruz Metro Station. The staff operating from the centre would be relocated to multiple properties owned by the group across Mumbai, including Ballard Estate.
