Share of Reliance Infrastructure Ltd went up 20 per cent on Wednesday after the company announced that its external debt was down to Rs 475 crore, against the earlier Rs 3,831 crore.
Reliance Infrastructure closed at Rs 282.73, up 20 per cent or Rs 47.12. According to an exchange filing on Wednesday, the company said that its net worth currently stands at Rs 9,041 crore.
The company had completed a one-time settlement with Life Insurance Corporation relating to the issue of debentures worth Rs 600 crore.
The company further said that it has cleared its funded outstanding dues to Edelweiss Asset Reconstruction Co., ICICI Bank Ltd, Union Bank Ltd, and other lenders. Invent Assets Securitisation and Reconstruction Pvt, a lender to the company, replaced certain charged securities to recover its dues.
“As a result, Invent ARC’s entire fund-based outstanding amount has been reduced to zero.”
Shares of Reliance Infrastructure have risen 25 per cent in the last one month. It gained almost 33 per cent in YTD (year-to-date) timeframe and surged nearly 59 per cent in the last one year.
Along with Reliance Infrastructure, Reliance Power settled at Rs 32.97, up 5 per cent or Rs 1.57.