Reliance Infrastructure rises on signing settlement agreement with J C Flowers ARC
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Reliance Infrastructure is currently trading at Rs. 213.35, up by 3.20 points or 1.52% from its previous closing of Rs. 210.15 on the BSE.
The scrip opened at Rs. 210.90 and has touched a high and low of Rs. 214.85 and Rs. 210.90 respectively. So far 115600 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 232.00 on 07-Dec-2023 and a 52 week low of Rs. 114.60 on 23-Feb-2023.
Last one week high and low of the scrip stood at Rs. 210.20 and Rs. 190.15 respectively. The current market cap of the company is Rs. 8324.70 crore.
The promoters holding in the company stood at 16.56%, while Institutions and Non-Institutions held 15.00% and 68.44% respectively.
Reliance Infrastructure has signed a settlement agreement with J.C. Flowers Asset Reconstruction (JCF ARC) in settlement of the entire obligations with respect to its borrowings. Till the time the loans are settled in terms of this Agreement, legal proceedings initiated in this connection would be in abeyance.
JCF ARC does not hold any share in the Company and is neither a related party nor part of the promoter group.
Reliance Infrastructure (RInfra) is one of the largest infrastructure company, developing projects through various Special Purpose Vehicles (SPVs) in several high growth sectors within the infrastructure space such as Power, Roads, Airport, Metro Rail and Defence. The company is having presence across the value chain of power business and also provides Engineering and Construction (E&C) services for various infrastructure projects.
