MMOPL subsidiary restructures Rs 2,771 cr debt, cuts debt by over Rs 1,100 cr

Mumbai Metro One (MMOPL), 74 percent subsidiary of Reliance Infrastructure, has entered a Master Restructuring Agreement with NARCL worth Rs 2,771.32 crore. The deal cuts MMOPL debt by over Rs 1,100 crore and withdraws insolvency proceedings against it. MMOPL runs the Versova-Andheri-Ghatkopar Metro Line-1 used by over 5 lakh commuters daily. NARCL will nominate a director on MMOPL board. The agreement removes a major financial overhang and strengthens MMOPL operations.