Debt financing
Reliance Infra’s JV Mumbai Metro One restructures debt with NARCL; avoids insolvency
Economic Times National Asset Reconstruction Company
Mumbai Metro One , a subsidiary of Reliance Infrastructure, has restructured its debt with the National Asset Reconstruction Company (NARCL), avoiding insolvency. The transaction, valued at INR 2,771.32 crore, is governed by a Master Restructuring Agreement. As part of the arrangement, NARCL will nominate a director to the board of the company, and a monitoring committee comprising representatives from both the lender and the firm will oversee the implementation of the process.Mumbai Metro One operates the Versova-Andheri-Ghatkopar Metro Line - 1. The firm is a joint venture between Reliance Infrastructure, which holds a 74% equity stake, and the Mumbai Metropolitan Region Development Authority (MMRDA), which holds a 26% stake.
For FY25, Mumbai Metro One had reported about INR 380 Cr in Operating Income and about INR 594 Cr in Net Loss.
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