Anil Ambani’s Reliance Group to lease out company headquarters to cut debt

Reliance Group is looking to lease out its headquarters in one of Mumbai’s prime suburbs, the telecoms to infrastructure conglomerate said, a move that will help the company to raise funds to pay off debt.

Some of the companies under the Reliance Group conglomerate, controlled by businessman Anil Ambani, have been hit by a spate of credit ratings downgrades and auditing issues.

“Reliance infrastructure plans to monetise its marquee Reliance Center Office located in Santacruz East, Mumbai,” the company said in a statement.