Reliance Communications (RCom) has already received half of the Rs13bn (US$212.3m) raised by selling warrants to its owners in late June.
The remaining Rs6.5bn (US$106.2m) will be secured by 31 March 2015, the Indian mobile operator said in a stock…
Reliance Communications (RCom) has already received half of the Rs13bn (US$212.3m) raised by selling warrants to its owners in late June.
The remaining Rs6.5bn (US$106.2m) will be secured by 31 March 2015, the Indian mobile operator said in a stock exchange announcement yesterday.
Overall, RCom sold 86.7 million warrants at Rs150 (US$2.45) each.
The sale took place over a month ago and was accompanied by a share issue to institutional buyers which reached Rs48.08bn (US$800.1m).
Proceeds from the placement and allotment will be used to pare its debt load, which stood at Rs402bn (US$6.8bn) as of 31 March 2014.
