Reliance Infrastructure (RInfra) has completed a Rs 188 billion deal for the sale of its Mumbai energy business to Adani Transmission Limited, to help it pare debt by two-thirds to Rs 75 billion. Though RInfra has sold one of its profitable business ventures, the sale will help bolster the company’s financials by repaying debt of Rs 138 billion from an accumulated debt of Rs 220 billion. The deal will help narrow RInfra’s debt-equity ratio to 0.3:1, among the lowest in the industry.
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