Reliance Infrastructure shares jumped more than 6% in morning trade after the company’s settlement with Adani Group and LIC.
The company has recently announced the successful completion of a One-Time Settlement (OTS) with the Life Insurance Corporation of India (LIC), settling all obligations related to the company’s Non-Convertible Debentures (NCDs). The entire settlement amount is ₹600 crore.
Reliance Infrastructure has also reached a settlement with Adani Electricity Mumbai Limited (AEML) and Adani Energy Solutions Limited (AESL). Without any monetary exchange, the two firms have agreed to withdraw their arbitration claims.
As of 10:28 am, Reliance Infrastructure shares were trading 5.50% higher at Rs 248.56 on the NSE.
