Reliance Infrastructure (RInfra) whose non convertible debentures (NCDs) amounting to Rs 133.38 crore were due on August 20 has said that it now ” expects to make these payments in the next few days from the proceeds from sale of Mumbai Power Business to Adani Transmission for Rs 18,800 crore.
“The entire proceeds of the sale transaction have been earmarked for the payment of various debt including final redemption of Series 3 NCDs amounting to Rs 133.38 crore due on August 20, 2018,” RInfra said in a BSE filing.
“The company expects to make these payments in the next few days from the proceeds of the aforesaid sale transaction, and the debenture holders have duly been informed in this regard,” it said. RInfra said it has obtained all relevant approvals from the Competition Commission of India, shareholders of the company, Maharashtra Electricity Regulatory Commission, etc.
“All lenders have provided their NOCs and the company expects to close the transaction within the next few days,” the company said.