Anil Ambani, Chairman, Reliance Anil Dhirubhai Ambani Group, address back to back AGMs and said that RCOM would bring down its debt below Rs 20,000 crore in next 2 years.
Currently, RCOM has a debt of Rs 35,000 crore. “Non-core businesses like real estate and DTH will be monetised. We are looking at various options to monetise these two assets. One option is demerger of land banks from the company and a separate listing,” Ambani said. The company had recently reduced its debt by Rs 6,000 crore through a qualified institutional placement.
Ambani also said that the company will participate in auctions next year and will be in a position to launch 4G services in 2015. Considering that, Reliance Jio, run by his brother Mukesh Ambani, is taking its own sweet time to launch its 4G service pan-India, it’s a bold claim that RCOM has made. A large amount of spectrum is already being made, and hence the company does not see any challenges at this stage.
However, he also said that the company would require Rs 1,000 – 1,500 crore capital expenditure for sustainable maintenance.