Reliance Communications raises over Rs 4,800 Crores By Selling Shares

India’s telecommunications major Reliance Communications has managed to raise over $800 million (Rs.4,800 crore) by sale of its shares to institutional investors. According to reports, Reliance Communications received bids worth more than 12,000 crore out of which they chose to retain just half the bids. This move is expected to help the company reduce its debt of over Rs.40,177.6 crore that it accumulated in four years.



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