RCom shares jump over 6% as it starts monetisation of realty assets

A taxi drives past a Reliance Communications office building in Kolkata. Photo: Reuters

Latest News – Shares of Reliance Communications (RCom) on Thursday surged over 6 per cent after the company said it has started the process to monetise its real estate assets in Delhi and Mumbai as part of efforts to pare debt.

The stock, after a positive opening, gained 5.82 per cent to Rs 20.90 on the BSE.

On the NSE, it went up by 6.34 per cent to Rs 20.95.

RCom, which is saddled with Rs 45,000 crore of debt, has got a 7-month reprieve from banks to service it.

“We wish to inform… That the company has initiated the monetisation programme for its real estate properties,” the company said (Read More)

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