The agreement, dated November 26, 2024, marks the closure of a financial obligation amounting to about ₹271.18 crore, which includes principal and accrued interest, the company said in a stock exchange filing.
This settlement also absolves Reliance Infrastructure, which acted as the corporate guarantor for JRTR, of any further liabilities related to the loan, the company mentioned in the stock exchange notification.
The agreement ensures the full repayment of JRTR’s outstanding debt to YBL, effectively removing a substantial financial burden from the subsidiary’s books.
Reliance Infrastructure is no longer liable as a guarantor for the loan, following the resolution of the debt under the agreement, the stock exchange filing mentioned.
Yes Bank Limited does not hold any shares in the company and is neither a related party nor associated with the company’s promoter group.
By resolving the debt obligation, JRTR is now poised to focus on its core operations and long-term growth.
This development is expected to have a positive impact on the company’s financial standing, as the discharge of the corporate guarantee mitigates potential risks associated with JRTR’s debt.
It also reflects the company’s proactive approach to maintaining its financial integrity and protecting shareholder interests.
On October 22, Reliance Infrastructure Ltd announced its plans to set up India’s largest integrated facility for manufacturing explosives, ammunition, and small arms in Ratnagiri, Maharashtra.
The project, spearheaded by its subsidiary Reliance Defence Ltd, will be part of the Dhirubhai Ambani Defence City (DADC) in the Watad Industrial Area and will cover a sprawling 1,000-acre site.
Reliance Infra shares were trading 1.2% higher at ₹275 apiece at 10.55 am on Wednesday, November 27.
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