Reliance Infra sells HQ in Mumbai's Santacruz to YES Bank

Published On: Thursday, April 1, 2021 | By: Team KnowMyStock

Reliance Infrastructure Limited of Anil Ambani Group today sold its headquarters in Santa Cruz, Mumbai to YES Bank for Rs 1,200 crore. Yes Bank, which currently operates from Indiabulls Centre in Central Mumbai, will convert the building as its corporate headquarters. The entire proceeds from the sale of Reliance Centre, Santacruz will be utilised to repay the debt of YES Bank. The lender had an exposure of Rs 4,000 crore in the company. With this, Reliance Infra has sold three major assets since January this year, including the sale of Delhi Agra Toll Road to Cube Highways and the electricity transmission asset (Parbati Koldam Transmission Ltd) to Ingrid. With this deal, Yes Bank has reduced its exposure to Reliance Infra. by half to Rs 2,000 crore.

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