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RCom soars on completing Rs 1200 crore Securitisation proceeds with Reliance Jio

11 Jul 2013 Evaluate

RCom is currently trading at Rs. 143.15, up by 2.95 points or 2.10% from its previous closing of Rs. 140.20 on the BSE.

The scrip opened at Rs. 142.50 and has touched a high and low of Rs. 144.90 and Rs. 141.95 respectively. So far 13, 81,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 149.55 on 08-Jul-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. 149.55 and Rs. 130.90 respectively. The current market cap of the company is Rs. 29,546 crore.

The promoters holding in the company stood at 67.86% while Institutions and Non-Institutions held 17.31% and 14.54% respectively.

Reliance Communications (RCom) has completed securitisation of proceeds under the Rs 1200 crore ($200 million) inter-city Fibre Agreement signed with Reliance Jio Infocomm in April 2013. The proceeds from securitisation have been utilized to repay high cost rupee debt, resulting in significant interest cost savings for RCom. The securitisation has been completed with Indian and foreign banks.

Deliveries of inter city fibre links to Reliance Jio have already commenced. The total deliveries of 1,20,000 kms inter-city fibre under the agreement are expected to be completed within the current financial year.

RCom 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

Reliance Comm Share Price

1.05 0.01 (0.96%)
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