Reliance Infrastructure is in focus after the company signed a definitive binding agreement with Adani Transmission Limited for 100 percent stake sale of its Mumbai Power Business. CNBC-TV18's Kevin Lee caught up with Lalit Jalan, CEO of Reliance Infrastructure and began by asking him how long will the deal closure take and what are the regulatory approvals left.
We are very confident that the deal is expected to be consumed by March 31 of this year, he said.
The total debt at Reliance Infrastructure level is Rs 15,000 crore and with the Rs 18,000 crore which come in on the consummation of deal, we expect to become debt free and become cash surplus with about Rs 3,000 crore of cash, he added.
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