Reliance Infra on Friday announced the completion of sale of its Delhi-Agra (DA) toll road to Cube Highways and Infrastructure for Rs 3,600 crore. In a regulatory filing, Reliance Infrastructure Ltd said it has completed the sale of its 100 percent stake in DA Toll Road to Cube Highways and Infrastructure III Pte Ltd for an enterprise value of over Rs 3,600 crore.

According to Reliance Infrastructure Limited, the entire sale proceeds of Delhi – Agra toll road are being utilized for debt reduction. Reliance Infrastructure Limited has reduced its total debt liabilities by 20 percent from the deal proceeds of the toll road from an amount of Rs 17,500 crore to Rs 14,000 crore.

The deal was announced in March 2019 with the signing of a definitive binding agreement between Reliance Infra and Cube Highways and Infrastructure III Pte Ltd. Reliance Infra said the entire sale proceeds are being utilized for debt reduction.

On Friday, shares of Reliance Infrastructure Limited Closed 1.68 percent  higher at Rs 27.30 per share on the National Stock Exchange

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