RCom on debt-reduction drive, real estate divestment can fetch Rs 6000 cr

Debt ridden Reliance Communication is trying to monetize a number of its assets to pare it debt by Rs 40,000 crore this fiscal year.

If the company succeeds in doing so, it could bring down its debt significantly to Rs 15,000 crore.

 RCom on debt-reduction drive, real estate divestment can fetch Rs 6000 cr

Reuters

The company has revived its plans to sell its direct-to-home (DTH) entertainment business. It has invited strategic and financial players to submit interest for the business which is valued at Rs 2500 crore.

The company is also looking at divesting its real estate assets and is looking to fetch upto Rs 6000 crore from it

Richard Ellis, Jones Lang Lasalle & Knight Frank have been roped in to facilitate the deal.

Furthermore, the company is looking to close a deal with Critic Telecom by October and this will help cut the company's large debt by Rs 6000 crore.

The company is also likely to outsource its BPO arm seeking Rs 600 crore. The company management, however, refused to comment on the aforementioned developments.

Updated Date: Feb 03, 2017 00:20:21 IST