Reliance Infrastructure Slashes Debt by 87%

Anil Ambani's Reliance Infrastructure Ltd reduced its standalone debt from Rs 3,831 crore to Rs 475 crore by settling dues with Life Insurance Corporation of India, ICICI Bank, and other lenders. The company's net worth now stands at Rs 9,041 crore following various settlements and agreements.

Anil Ambani's Reliance Infrastructure Ltd has drastically reduced its standalone debt by 87%, bringing it down to Rs 475 crore, after clearing dues with Life Insurance Corporation of India, ICICI Bank, and other lenders.

According to stock exchange filings and press statements, Reliance Infrastructure's external debt dropped from Rs 3,831 crore to Rs 475 crore. The company's net worth is now Rs 9,041 crore. Reliance Infrastructure settled its dues with LIC, Edelweiss Asset Reconstruction Company Limited, ICICI Bank, and Union Bank.

The firm also reached settlements with Edelweiss Asset Reconstruction Company Ltd and Invent Assets Securitisation and Reconstruction Private Limited. Furthermore, Reliance Infrastructure and Adani group firms withdrew arbitration claims following an agreement.

(With inputs from agencies.)