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Reliance Infra sells Reliance Centre in Mumbai to Yes Bank for Rs 1,200 crore

The proceeds from the sale of the Reliance Centre in Santacruz, Mumbai will be used only to repay the debt of Yes Bank.

April 01, 2021 / 03:12 PM IST
Reliance Infrastructure has sold its Reliance Centre at Santacruz in Mumbai to Yes Bank for Rs 1,200 crore. [Image: REUTERS/Adnan Abidi]

Reliance Infrastructure has sold its Reliance Centre at Santacruz in Mumbai to Yes Bank for Rs 1,200 crore. [Image: REUTERS/Adnan Abidi]

 
 
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Reliance Infrastructure has sold its Reliance Centre at Santacruz in Mumbai to Yes Bank for Rs 1,200 crore.

The proceeds from the transaction will be used only to repay the debt of Yes Bank, Reliance Infrastructure said in a BSE filing.

Reliance Infrastructure's share price rose more than 9 percent intraday after the news.

Reliance Infrastructure's exposure of Yes Bank has been reduced from Rs 4,000 crore to Rs 2,000 crore, CNBC-TV18 reported.

On January 1, Reliance Infrastructure had announced completion of the sale of the Delhi-Agra toll road to Cube Highways and Infrastructure for Rs 3,600 crore.

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(This is a developing story. Please check back for updates.)
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TAGS: #Yes Bank
first published: Apr 1, 2021 01:09 pm

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