Reliance Communications’ (RCom) promoter Telecom Infrastructure Finance (TIFPL) has paid Rs 650 crore to the company and increased its holding to 59.7 per cent in the company. The proceeds from TIFPL are expected to be utilised by RCom to lower its debt which stood at Rs 36,334 crore in the second quarter ended September 30, 2014.
On July 24, the company's shareholders had approved issuing of preferential shares of over 8.6 crore to TIFPL.
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.
| Company Name | CMP |
|---|---|
| Bharti Airtel | 1851.30 |
| Vodafone Idea | 9.58 |
| Indus Towers | 410.50 |
| Tata Communications | 1517.00 |
| Bharti Hexacom Ltd. | 1540.15 |
| View more.. | |
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