Reliance Infra, which reportedly has a debt amounting to Rs. 2900 crores to Yes Bank, has given up its Santa Cruz based headquarters.
The bank confiscated the property among few others last year and today, a deal has been signed off between the two for its sale at a whopping amount of Rs. 1200 crores. The proceeds from this deal will be used to repay loans, says Reliance Infrastructure.
Prashant Kumar, MD and CEO of Yes Bank has mentioned that the headquarters of the bank might be shifted to this property and it might happen sooner than later. Currently, the headquarters of the bank is located at the top 6 floors of Indiabulls Finance Center.
Reliance Infra, on the other hand, is trying to pay off all its debts as soon as it can, and thereby, has recently closed deals selling off many of its assets. The headquarter of the company has shifted back to its original property based in Ballard.