History

_x000D_ Reliance Infrastructure Ltd, or RInfra, is one of the largest infrastructure companies in India. It develops major projects through various Special Purpose Vehicles (SPVs) in high-growth sectors such as Power, Roads, and Metro Rail in the Infrastructure space and also the Defence sector._x000D_ _x000D_ Established in October 1929 as Bombay Suburban Electric Supply Ltd (BSES), the company experienced significant growth from 1995-96, following the completion of a 2 x 250 MW Generation Project at Dahanu. In 1996-97, the Aarey Receiving Station was commissioned. The company was listed on the BSE in November 1991._x000D_ _x000D_ In March 2000, the company operated 'BSES Telecom' in Mumbai as an Internet service provider (ISP) and also had a fibre optic network to support their last mile services. The company’s name was changed to Reliance Energy Ltd in 2004 and then to Reliance Infrastructure Ltd in 2008. During the year 2007-08, the company also entered into various contracts in the fields of energy and infrastructure business._x000D_ _x000D_ In 2015, Reliance Infrastructure set up 3 new subsidiaries to pursue growth opportunities in the defence sector. In 2016, RInfra announced the sale of its 100% stake in its transmission assets and the Mumbai power business the following year. The objective behind the sale was to monetise non-core businesses and focus on major growth areas like Defence and the engineering business. In April 2017, it received approval from the National Highway Authority of India (NHAI) to receive road projects under the Reliance Infrastructure InvIT Fund. In 2018, the company's joint venture with Astaldi S.p.A (Italy) bagged the engineering, procurement and construction (EPC) contract for the prestigious Versova-Bandra Sea Link Project in Mumbai._x000D_

Business Segments

_x000D_ The company is predominantly engaged in the business of engineering, construction, erection and commissioning of infrastructure projects. It earns revenue from 4 major business segments listed below:_x000D_

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1. Energy - Following the privatisation of Delhi's power sector in 2002, the business of power distribution was transferred to BSES Delhi Discom which is based on both BSES Rajdhani Power Limited and BSES Yamuna Power Limited.
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2. Infrastructure - Under this segment, the businesses of roads, metro and airports are covered._x000D_
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   1. Roads - The company is a major developer of road and highway projects for the National Highways Authority of India (NHAI), usually operating under the build, operate, transfer (BOT) scheme.
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   2. Metro - Reliance Infrastructure is a part of Mumbai Metro One, i.e. the special purpose vehicle responsible for the metro railways in Mumbai.
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   3. Airports - Reliance Infrastructure, with its subsidiary company, Reliance Airport Developers Private Limited (RADPL), operates 5 brownfield airports for business jets in Maharashtra.
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3. Engineering and Construction (E&C) - The E&C division builds and implements power generation projects on a turnkey basis. Past projects include rural electrification, hydropower projects, co-generation plants, thermal power plants, etc.
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4. Defence - In this segment, the company partners with multiple foreign OEMs such as Dassault Aviation, Diehl, Safran, etc. for both aviation, land systems and naval systems. Products include various defence equipment ranging from light machine guns to radars.
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Subsidiaries

_x000D_ The company has several subsidiaries, some of which are:_x000D_

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1. Dassault Reliance Aerospace Limited - Reliance Infrastructure holds a 51% stake in this company that assembles large aerostructures for Falcon and Rafale Engine Doors.
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2. TD Toll Road Private Limited - This company provides road connectivity between Trichy and Dindigul.
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3. Delhi Airport Metro Express Private Limited - This company is in charge of the maintenance and operation of the Delhi Metro.
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4. Reliance Smart Cities Limited - This subsidiary is engaged in the construction sector.
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Key Personnel

_x000D_ Punit Garg, CEO_x000D_ _x000D_ Mr Garg has been a part of the senior management team of Reliance Group since 2001 and has been involved in making a number of strategic decisions for the company. He previously served as an Executive Director on the Board of Reliance Communications Ltd and has a rich experience of over 34 years._x000D_

Corporate Actions

_x000D_ The company has not had any major corporate actions performed in the recent past._x000D_ _x000D_ Mergers and Acquisitions_x000D_

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• In 2019, Reliance Global Ltd turned into a subsidiary of RInfra and Reliance Electric Generation and Supply Ltd stopped being a subsidiary of the same.
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• In March 2015, Reliance Infrastructure announced that it was acquiring Pipavav Defence and Offshore Engineering Company Limited.
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• In 2013, Western Region Transmission (Gujarat) Private Limited (WRTGL) and Western Region Transmission (Maharashtra) Private Limited (WRTML) were approved for a merger with RInfra.
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• The company’s directors approved a merger of Reliance Goa and Samalkot Power Ltd, Reliance Energy Ltd, Reliance Energy Generation Ltd, Reliance Infraventures Ltd and Reliance Property Developers Ltd, alongside the demerger of the container business undertaking of Reliance Infrastructure Engineers Pvt Ltd with the company.
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