MUMBAI — Share of Reliance Infrastructure Ltd went up 20 per cent on Wednesday after the company announced that its external debt was down to INR 475 crore, against the earlier INR 3,831 crore.
Reliance Infrastructure closed at INR 282.73, up 20 per cent or INR 47.12. According to an exchange filing on Wednesday, the company said that its net worth currently stands at INR 9,041 crore.
The company had completed a one-time settlement with Life Insurance Corporation relating to the issue of debentures worth INR 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 INR 32.97, up 5 per cent or INR 1.57.