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Reliance Infrastructure is raising $350 million through foreign currency convertible bonds to repay debt and launch new businesses, including electric power generation. The company will also establish four new subsidiaries for various ventures

Anil Ambani's Reliance Infrastructure to raise $350 million to repay debt

<h2>Reliance Infrastructure is raising $350 million through foreign currency convertible bonds to repay debt and launch new businesses, including electric power generation. The company will also establish four new subsidiaries for various ventures</h2>

Anil Ambani's Reliance Infrastructure is planning to raise $350 million via foreign currency convertible bonds to repay its rupee debt and start new businesses such as electric power generation, reported The Economic Times. The report further noted Care Rating report dated February 26, 2024 and said that the company has debt facilities in form of term loans on non-convertible debentures of Rs 2253 crore and Rs 703 crore respectively.
<h3>Reliance Infra to repay debts</h3>
As per the Care Rating report, the firm has term loans from Rs 1505 crore from Yes Bank- which the bank sold to J C Flowers Asset Reconstruction Company, IDBI Bank, Jammu &amp; Kashmir Bank and Axis Bank has exposure of Rs 600 crore, Rs 82 crore and Rs 66 crore respectively.
Reliance Infrastructure has signed a standstill agreement with J C Flowers ARC in early January. As per the agreement the ARC has agreed not to take legal action until at least March 20 to recover its dues. An exchange filing shows that this deadline was extended to March 31 and later to May 30.
In the stock exchange filing, Reliance Infrastructure has said that it has paid Rs 1,347 crore to JCF ARC - of which Rs. 817 crore was paid till March 31 and balance of Rs 530 crore as on end April 2024.
Meanwhile, The Economic Times quoted a lender and said that the FCCB proceeds will likely repay the remaining debt of JCF ARC and other banks and bondholders.
<h3>Reliance Infrastructure expansion</h3>
Reliance Infrastructure in a stock exchange filing disclosed that it has also approved plans to float four companies including Reliance Jai Pvt Ltd (RJPL), Reliance Unlimit Pvt Ltd (RUPL), Reliance EV Pvt Ltd (REVPL), and Reliance Risee Pvt Ltd (RRPL). These companies will engage in electric power generation, information technology (IT) consultancy, infrastructure, and the manufacture of vehicles for fuel transport.
Also watch: <a href="https://www.editorji.com/business-news/maharashtra-to-buy-anil-ambani-s-stake-in-mumbai-metro-one-for-this-much-1710247824052">Maharashtra to buy Anil Ambani&rsquo;s stake in Mumbai Metro One for this much&hellip;</a>
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Anil&nbsp;Ambani's Reliance Infrastructure has won a crucial four-year battle for control of money from an arbitration award that it says it needs to repay lenders.
The Supreme Court on Thursday upheld the 2017 arbitration award in favor of&nbsp;Anil Ambani&rsquo;s unit. The arbitration tribunal award is worth over Rs 4,600 crore&nbsp;including interest, according to Reliance Infrastructure&rsquo;s annual report.
Reliance Infrastructure&rsquo;s unit had in 2008 entered into a contract with Delhi Metro for running the country&rsquo;s&nbsp;first private city rail&nbsp;project till 2038. Following disputes over fee and operations in 2012, Ambani&rsquo;s firm stopped operating the capital&rsquo;s airport metro project and initiated an arbitration case against&nbsp;Delhi Metro.

Anil Ambani's Reliance Infra wins Rs 4,600 cr arbitration award against Delhi Metro

Anil&nbsp;Ambani's Reliance Infrastructure has won a crucial four-year battle for control of money from an arbitration award that it says it needs to repay lenders.
&nbsp;

Arbitration award of Rs 4,600 cr to b used to repay lender

Anil&nbsp;Ambani's Reliance Infrastructure has won a crucial four-year battle

Anil&nbsp;Ambani's Reliance Infrastructure has won a crucial four-year battle for control of money from an arbitration award worth over Rs 4,600 crore.
The Supreme Court on Thursday upheld the 2017 arbitration award in favor of&nbsp;Anil Ambani&rsquo;s unit. The arbitration tribunal award is worth over Rs 4,600 crore&nbsp;including interest, according to Reliance Infrastructure&rsquo;s annual report.
Reliance Infrastructure&rsquo;s unit had in 2008 entered into a contract with Delhi Metro for running the country&rsquo;s&nbsp;first private city rail&nbsp;project till 2038. Following disputes over fee and operations in 2012, Ambani&rsquo;s firm stopped operating the capital&rsquo;s airport metro project and initiated an arbitration case against&nbsp;Delhi Metro.

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