Reliance Communications (RCom) is currently trading at Rs. 47.60, up by 0.20 points or 0.42% from its previous closing of Rs. 47.40 on the BSE.
The scrip opened at Rs. 47.40 and has touched a high and low of Rs. 48.45 and Rs. 47.40 respectively. So far 11,06,000 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 91.80 on 01-Jan-2016 and a 52 week low of Rs. 42.10 on 29-Sep-2016.
Last one week high and low of the scrip stood at Rs. 48.45 and Rs. 45.80 respectively. The current market cap of the company is Rs. 11,847.00 crore.
The promoters holding in the company stood at 59.09%, while Institutions and Non-Institutions held 25.57% and 14.48% respectively.
RCom is reportedly in advanced talks with Brookfield, the world's 2nd biggest manager of alternative assets like real estate and private equity from Canada, to complete the sale of its tower arm. The deal is likely to be completed by this week.
Brookfield Asset Management is looking to acquire a controlling stake in the tower asset. The deal for 44,000 towers, which has been pending for about six years, is valued at Rs 19,000-21,000 crore. The transaction will help RCom bring down its debt. Both the entities have completed the due diligence and are in the last lap of closing the deal and signing the term sheet.
Currently, the tower subsidiary Reliance Infratel is 96 per cent owned by RCom. Minority and institutional investors such as George Soros’ Quantum (M), NSR Partners, Galleon, HSBC Daisy Investment (Mauritius), Drawbridge Towers, Investment Partners B (Mauritius) - which invested $287 million in 2007 - own the remainder. The minority partners are also expected to exit with any sale.
| Company Name | CMP |
|---|---|
| Bharti Airtel | 1602.55 |
| Vodafone Idea | 7.90 |
| Indus Towers | 347.60 |
| Tata Communications | 1840.05 |
| Bharti Hexacom Ltd. | 1420.60 |
| View more.. | |
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