Reliance Comm raises 48 bn rupees via share sale: Sources

Written by Reuters | Updated: Jun 25 2014, 16:37pm hrs
India's Reliance Communications Ltd has raised 48 billion rupees ($804.02 million) 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 120 billion rupees.

Reliance Communications shares were trading down 2 percent at 148.40 rupees on the National Stock Exchange.