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RCom rings loud on being in advanced talks for selling Globalcom stake

22 Apr 2013 Evaluate

Reliance Communications (RCOM) is currently trading at Rs 87.15, up by 1.05 points or 1.22% from its previous closing of Rs 86.10 on the BSE.

The scrip opened at Rs 86.75 and has touched a high and low of Rs 88.10 and Rs 84.85 respectively. So far 3994995 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 91.85 on 22-Jan-2013 and a 52 week low of Rs 46.60 on 30-Aug-2012.

Last one week high and low of the scrip stood at Rs 87.05 and Rs 73.30 respectively. The current market cap of the company is Rs 17967.35 crore.

The promoters holding in the company stood at 67.86 % while Institutions and Non-Institutions held 17.10 % and 14.74 % respectively.

Reliance Globalcom, the submarine cable unit of Anil Ambani-controlled Reliance Communications (RCom), has ended talks with Bahrain Telecommunications Co (Batelco) to sell a majority stake in the company. The company now reportedly is in advanced stages of negotiations with a consortium of private equity firms led by Samena Capital to sell a majority stake in the company, in a deal which is likely to conclude by May end. RCom is looking to pare its debt of more than Rs 37,000-crore.

Established in 2008, Samena Capital currently manages total capital commitments of more than $700 million across a range of closed-ended fund structures. The company, in a proposed consortium with certain other global PE funds, is at an advanced stage of the process of due diligence and completion of definitive documents with respect to Reliance Globalcom’s acquisition.

Reliance Globalcom, which has more than 65,000-km of undersea cable network, provides managed network services to global clients and owns sub-sea cables such as Flag Telecom, Hawk and Falcon.

Reliance Comm Share Price

1.05 0.01 (0.96%)
17-Apr-2026 16:59 View Price Chart
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