Reliance Infrastructure Limited (RInfra) has announced a significant development in its joint venture with Dassault Aviation. The company is set to sell a 2% stake in Dassault Reliance Aerospace Limited (DRAL) to its French partner, Dassault Aviation, for ₹1.76 billion (approximately ₹175.96 crore). This transaction will reshape the ownership structure of the joint venture, giving Dassault Aviation a majority stake.

Key Details of the Transaction

• Stake Transfer: Reliance Aerostructure Limited (RAL), a wholly-owned subsidiary of Reliance Infrastructure, will transfer 2% of its equity shares in DRAL to Dassault Aviation.
• New Ownership Structure: Post-transaction, Dassault Aviation's stake in DRAL will increase to 51%, making it the majority shareholder. RAL's stake will decrease to 49%.
• Transaction Value: The deal is valued at ₹175.96 crore, based on an independent valuation.
• Completion Date: The stake transfer is expected to be completed by November 1, 2025.

Impact on Reliance Infrastructure

• Change in Subsidiary Status: Upon completion of the transaction, DRAL will cease to be a 51% subsidiary of Reliance Infrastructure and will become an associate company with a 49% shareholding.
• Financial Contribution: As of March 31, 2025, DRAL contributed:
  • 0.23% (₹69.93 crore) to RInfra's consolidated turnover
  • 0.33% (₹47.13 crore) to RInfra's consolidated net worth

About the Joint Venture

Dassault Reliance Aerospace Limited is a joint venture between Reliance Aerostructure Limited and Dassault Aviation. The French partner, Dassault Aviation, is a renowned company engaged in the manufacturing of military and business jets, including the Rafale and Falcon aircraft.

Regulatory Compliance

Reliance Infrastructure has made the necessary disclosures to the stock exchanges in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has confirmed that this transaction does not fall under related party transactions and is not part of any scheme of arrangement.

This strategic move by Reliance Infrastructure aligns with its focus on value creation for stakeholders and reflects the evolving dynamics of its partnership with Dassault Aviation in the aerospace sector.

Reliance Infrastructure Limited (RInfra) has issued a clarification regarding the recent action by Bank of Baroda to classify the loan account of Reliance Communications Limited (RCom) and Anil D Ambani as fraud. The company emphatically states that this classification has no bearing on its business operations, financial performance, or stakeholders.

Key Points of Clarification

• Historical Context: The classification by Bank of Baroda pertains to matters dating back a decade.
• Separate Entity: RInfra emphasizes its status as an independent listed entity with no business or financial ties to Reliance Communications.
• Leadership Changes: Anil D Ambani has not been on Reliance Infrastructure's board for over 3.5 years.
• RCom's Current Status: Reliance Communications is currently under the management of a Committee of Creditors led by SBI and overseen by a Resolution Professional.
• Ongoing Legal Proceedings: The matter remains sub judice, pending before the NCLT and other judicial forums, including the Supreme Court, for the past six years.

RInfra's Business Focus

Reliance Infrastructure reaffirmed its commitment to its core business operations, which span several infrastructure sectors:

• Power
• Roads
• Metro Rail
• Defense

The company operates through various Special Purpose Vehicles (SPVs) and continues to focus on creating value for all stakeholders.

Project Portfolio

RInfra highlighted its significant presence in the infrastructure space:

• Executed a metro rail project in Mumbai on a build, own, operate and transfer (BOOT) basis
• Developed road projects on a build, operate and transfer (BOT) basis
• Maintains a strong presence in power distribution as a leading utility company

Engineering and Construction Services

The company also emphasized its role as a major player in providing Engineering and Construction (E&C) services for developing:

• Power projects
• Infrastructure projects
• Metro projects
• Road projects

Reliance Infrastructure's clarification serves to distance itself from the recent banking classification involving Reliance Communications and reaffirms its independent status and ongoing commitment to its infrastructure and defense sector projects.