People familiar with the matter said the company received total bids of about Rs.12,000 crore. Photo: Hemant Mishra/Mint
Mumbai: Reliance Communications Ltd (R-Com) has raised Rs.4,800 crore in its share sale that was announced on Tuesday, as the telecommunications company looks to reduce debt.
People familiar with the matter said the company received total bids of about Rs.12,000 crore
Reliance Communications shares were trading down 2.21% at Rs.148 a piece on BSE on Wednesday.
The company on Tuesday said it would sell shares for Rs.142.13 each, or a discount of 5% to the floor price, but the company did not specify the number of shares being sold in the offering. Reuters
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