Shares of Reliance Communications soared over 14% on Tuesday on reports that RCom lenders have approved the sale of its real estate assets in Delhi and Chennai to Canada-based asset management firm Brookfield.
After opening strong at Rs 12.10 against the previous close of Rs 12.05, the scrip touched an intraday high of Rs 13.75 and a low of Rs 12.05. In terms of equity volume, 164.41 lakh shares exchanged hands on the BSE.
RCom shares ended higher by 11.62 per cent at Rs 13.45.
“Lenders have approved sale of real estate asset RCom holds in Delhi and Chennai for ₹801 crore to Brookfield,” a source privy to the development told PTI on condition of anonymity.
When contacted RCom declined to comment on the development, while email query sent to Brookfield elicited no immediate reply.
The proceeds will be used for retiring debts, the source said.
(With inputs from PTI)