The transaction is valued at Rs 1200 crore.
Reliance Infrastructure on Thursday announced a sale transaction of Reliance Centre, Santacruz in Mumbai to Yes Bank for Rs 1200 crore.In a regulatory filing Reliance Infrastructure said, "Entire proceeds from sale of Reliance Centre, Santacruz is utilized only to repay the debt of Yes Bank."
Shares of Reliance Infrastructure jumped 8.84% at Rs 38.15 on BSE.
Yes Bank rose 0.96% to Rs 15.75 on BSE.
Reliance Infrastructure is a utility company with presence across the chain of power businesses, such as generation, transmission, distribution and power trading. On a consolidated basis, the company posted a 76.8% fall in net profit to Rs 80.08 crore on a 3.1% decline in net sales to Rs 3831.69 crore in Q3 FY21 over Q3 FY20.
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