RCom Allots 10% Equity Worth Rs. 415 Crore to Sistema Shyam Teleservices, Brings Down Promoter Group Shareholding
Reliance Communications has allotted 10% or 27.65 crore shares worth Rs 415 crore to Sistema Shyam Teleservices, which resulted in a decline of 5.92% points to 53.08% in RCom's promoter group shareholding, the Anil Ambani-led telco said in a latest regulatory filing. The RCom-SSTL merger was finally approved by the telecom department last month. After the completion, RCom has acquired the entire telecom business of SSTL including its licences which... Read More
