R Com rings loud on plan to hive offf assets to reduce debt by about 37%

    

      In a bid to reduce debt by about 37% to Rs 25,500 crore, Reliance Communication (RCom) is planning to cut down expansion cost and hive offf some assets in the next 12 months. Moreover, Rcom is planning to use the key infrastructure -mobile towers and optical fibre -of Reliance Jio Infocomm for future expansion rather making its own fresh investments.
     RCom had net debt of about Rs 40,222.6 crore at the end of June 30. The company in the first week of July had raised about Rs 4,800 crore in a QIP that was used to reduce debt to about Rs 35,000 crore. 
     Reliance Communications 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.
     The promoters holding in the company stood at 58.25% while Institutions and Non-Institutions held 31.85% and 9.67% respectively.
     The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 164.45 on 20-Sep-2013 and a 52 week low of Rs 105.80 on 28-Aug-2013
     RCom is currently trading at Rs 122.15, up by 1.45 points from its previous closing of Rs 120.70 on the BSE.