Debt-ridden ADAG Group company proposes to monetise Reliance Infrastructure's headquarters located at Santacruz east in north west Mumbai. The group hopes to mop up about Rs 2,000 crore by way of the long term lease. Reliance Centre is the office building with over 6.95 lakh sq ft area on a plot of 15,514 sq mt and Reliance Infrastructure will continue to own the premises.

Reliance Infrastructure, which is currently engaged in power generation, toll roads and metro rail projects, has a debt of Rs 5,000 crore and will utilise 100% of the proceeds only for debt reduction. The ADAG group is believed to be in talks with private equity firm Blackstone and other companies to strike a deal.

The building is located adjacent to the western express highway. The current staff operating from Reliance Centre would be relocated to multiple properties owned by the Group across Mumbai including Ballard Estate in south Mumbai.

ADAG Group chairman Anil Ambani had recently revealed that the group has serviced the debt of Rs 35,000 crore to its lenders in last 14 months. Reliance Infrastructure's move comes at a time when the lenders to ADAG group are approaching bankruptcy courts for the recovery of dues worth Rs 86,187.38 crore.