NSEAgreements10 Jul 2026 · 10 Jul 2026, 04:08 pm
Agreements
Reliance Infrastructure Limited · RELINFRA
✦ AI Summary▲ PositiveDebt Restruc.
Reliance Infrastructure Limited's subsidiary, Mumbai Metro One Private Limited, has entered into a debt restructuring agreement with National Asset Reconstruction Company Limited, resulting in a debt reduction of over ₹1,100 crore and withdrawal of insolvency proceedings.
Analysis Scores
Earnings Impact8/10
Growth Catalyst2/10
Governance Concern1/10
Regulatory Risk3/10
Balance Sheet Risk6/10
Liquidity Impact9/10
Market Sentiment8/10
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Reliance Infrastructure Limited has informed the Exchange about Agreements
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RELINFRA_10072026160643_MMOPLMRANARCL10072026sd.pdf
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Reliance Infrastructure Limited
CIN : L75100MH1929PLC001530 Tel: +91 22 4303 1000
Regd. Office: www.rinfra.com
Reliance Centre, Ground Floor,
19, Walchand Hirachand Marg,
Ballard Estate, Mumbai 400 001
July 10, 2026
BSE Limited National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor,
Dalal Street, Fort, Plot No. C/1, G Block, Bandra Kurla Complex,
Mumbai 400 001 Bandra (East), Mumbai 400 051
BSE Scrip Code: 500390 NSE Scrip Symbol: RELINFRA
Dear Sir(s),
Sub: Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing
Obligations and Disclosure Requirements) Regulations, 2015
Mumbai Metro One Private Limited (MMOPL), subsidiary of Reliance
Infrastructure, Achieve Debt Restructuring with National Asset Reconstruction
Company Limited, a Government entity
Restructuring results in:
• Debt Reduction by more than Rs. 1100 crore
• Withdrawal of the Insolvency Proceedings against MMOPL
MMOPL is heartline of Mumbai’s East West connectivity - with ridership of over 5
lakhs commuters every day
Further to our earlier disclosure dated February 25, 2026 and pursuant to Regulation 30 of the
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("Listing
Regulations"), we wish to inform that on July 9, 2026, Mumbai Metro One Private Limited
("MMOPL"), a joint venture between Reliance Infrastructure Limited (holding 74% equity stake)
and Mumbai Metropolitan Region Development Authority ("MMRDA") (holding 26% equity
stake), which owns, operates and maintains the heartline of Mumbai’s East West connectivity
“Versova–Andheri–Ghatkopar Metro Line-1”, has entered into a Debt Restructuring Agreement
with National Asset Reconstruction Company Limited ("NARCL"), Government entity.
The restructuring will result in:
• Reduction in MMOPL's current debt payable to “NARCL” by more than ₹1,100 crore
(as on March 31, 2026); and
• Withdrawal of the Insolvency Proceedings initiated against MMOPL.
The debt restructuring marks a significant milestone in resolving MMOPL's debt and
strengthening its financial position, enabling it to continue focusing on the efficient and
uninterrupted operation and maintenance of the Versova–Andheri–Ghatkopar Metro Line-1,
while reinforcing its long-term operational sustainability. The requisite disclosure is set out in
“Annexure A”.
We request you to kindly take the above information on record.
Yours faithfully,
For Reliance Infrastructure Limited
Paresh Rathod
Company Secretary
Encl. : As above.
Annexure A
Disclosure pursuant to Regulation 30 of the SEBI (Listing Obligations and
Disclosure Requirements) Regulation, 2015 read with SEBI Circular No
HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026
Sr. Disclosure Item Details
a. Name(s) of parties with whom the : National Asset Reconstruction Company
agreement is entered; Limited ("NARCL") and Mumbai Metro One
Private Limited ("MMOPL"), a subsidiary of
the Company.
b. Purpose of entering into the : Restructuring of the entire financial
agreement obligations of MMOPL payable to NARCL
and withdrawal of the insolvency
proceedings initiated against MMOPL
pursuant to the terms of the Agreement.
c. Size of agreement; : Rs.2,771.32 crore
d. Shareholding, if any, in the entity : The Company holds 74% equity share in
with whom the agreement is MMOPL, which has entered into the Master
executed; Restructuring Agreement (MRA) with
NARCL. The Company does not hold any
shareholding in NARCL.
e. Significant terms of the agreement : The Agreement, inter alia, provides for the
(in brief) special rights like right to restructuring of the entire financial
appoint directors, first right to obligations of MMOPL towards NARCL.
share subscription in case of
issuance of shares, right to restrict As per MRA, NARCL has right to nominate a
any change in capital structure etc. director on the Board of MMOPL, provides
for the constitution of a Monitoring
Committee comprising representatives of
the lender and MMOPL to oversee the
implementation of the restructuring, and
contains customary affirmative and negative
covenants, including restrictions on certain
corporate actions without the prior written
consent of the lender.
f. Whether, the said parties are : NARCL is not related to promoter / promoter
related to promoter/promoter group / group companies in any manner.
group/ group companies in any
manner. If yes, nature of MMOPL is a subsidiary of the Company and
relationship is not related to the promoter/promoter
group/group companies other than by virtue
of being a subsidiary of the Company.
g. Whether the transaction would fall : Master Restructuring Agreement between
within related party transactions? If NARCL and MMOPL do not fall within
yes, whether the same is done at related party transaction.
“arm’s length”
h. In case of issuance of shares to : Not Applicable
the parties, details of issue price,
class of shares issued
Sr. Disclosure Item Details
i. In case of loan agreements, details : Not Applicable
of lender/borrower, nature of the
loan, total amount of loan
granted/taken, total amount
outstanding, date of execution of
the loan agreement/sanction letter,
details of the security provided to
the lenders / by the borrowers for
such loan or in case outstanding
loans lent to a party or borrowed
from a party become material on a
cumulative basis;
j. Any other disclosures related to : Not Applicable
such agreements, viz., details of
nominee on the board of directors
of the listed entity, potential conflict
of interest arising out of such
agreements, etc.
k. in case of termination or : Not Applicable
amendment of agreement:
i. name of parties to the
agreement;
ii. nature of the agreement;
iii. date of execution of the
agreement;
iv. details of amendment and
impact thereof or reasons of
termination and impact thereof.