Reliance Communications, India's fully integrated telecommunications service provider, reportedly is considering raising about $300 million through an institutional share sale, to cut down its debt. The company will probably start the sale in the next two months.
The company’s net debt has doubled to Rs 402 billion in the four years through March 31, 2014. Meanwhile, the company back in August 2013 received shareholder approval to sell new shares equivalent to 25 percent of its capital.
Reliance Communications is India’s foremost and truly integrated telecommunications service provider. The company, with a customer base of about 150 million, including over 2.5 million individual overseas retail customers, ranks among the Top 4 Telecom companies in the world by number of customers in a single country
