You are here: Home » Companies » Industry
Business Standard

Lenders clear sale of RCom Delhi, Chennai real estate assets for Rs 801 cr

RCom, which is reeling under Rs 45,000 cr debt, is under a standstill period till Dec 2018

Press Trust of India  |  New Delhi 

Lenders clear sale of RCom Delhi, Chennai real estate assets for Rs 801 cr

of debt ridden have approved the sale of its real estate assets in Delhi and Chennai to Canada-based asset management firm Brookfield, said a source.

"have approved sale of real estate asset holds in Delhi and Chennai for Rs 801 crore to Brookfield," a source privy to the development told news agency Press Trust of India on condition of anonymity.

When contacted declined to comment on the development, while email query sent to elicited no immediate reply.

The proceeds will be used for retiring debts, the source said.

As per of its asset monetisation plans, has been working on finding investors or buyers for prime real estate assets, including at Dhirubhai Ambani Knowledge City, Navi Mumbai, measuring nearly 125 acres with development rights of potentially over 17 million sq ft and prime property of 4 acre near Connaught Place, New Delhi.

RCom, which is reeling under Rs 45,000 crore debt, is under a standstill period (for interest and principal repayments) till December 2018 and expects to complete the SDR process as per applicable RBI guidelines. 

First Published: Tue, November 21 2017. 01:05 IST
RECOMMENDED FOR YOU