Sistema Shyam Teleservices (SSTL) has sold over 1.5 crore shares of debt-ridden Reliance Communications (RCom), lowering its holding to 4.43%. SSTL sold a total of 1,54,13,395 shares, amounting to 0.55% stake, of the debt-ridden company. The shares were offloaded at Rs 12.63 apiece, valuing the transaction at Rs 19.46 crore.
This comes after the company last month sold 2.1% of its equity holding in the company thereby reducing its stake to 4.98%.
Reliance Communications is India’s foremost and truly integrated telecommunications service provider.
