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[July 25, 2014]
RCOM ISSUES WARRANTS TO PROMOTERS, RAISES Rs1,300 CRORE
(Indian Business Insight Via Acquire Media NewsEdge) Reliance Communications (RCom) has mobilised Rs1,300 crore via issue of warrants to promoters. RCom passed a special resolution to issue 8.6 crore equity shares of Rs5 each warrants to the promoter group company Telecom Infrastructure Finance Pvt Ltd. The money along with QIP proceeds of Rs4,800 crore raised recently would be used to reduce the huge debt of the company.
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