Wednesday, December 27, 2017

Rcom to exit SDR, stock up 41 percent

Rcom says that it will exit SDR scheme. It will sell its telecom towers, real estate and other assets, and also will get a strategic investor. The process would help reduce its debt by Rs 39,000 crore. 

 After restructuring, R Com will reduce its debt by 87 per cent to Rs 6,000 crore. As of March 2017, the company had a debt of Rs 44,700 crore. 

On this news the stock skyrocketed and closed at Rs 23, up 41% in yesterday's trading.

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