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Sistema Shyam lowers stake in RCom to 4.43%

Press Trust of India  |  New Delhi 

(SSTL) today offloaded over 1.5 crore shares of debt-ridden Reliance Communications, lowering its holding to 4.43 per cent.

This comes after the company last month sold 2.1 per cent of its equity holding in (RCom), thereby reducing its stake to 4.98 per cent.

According to bulk deal data available with (NSE), sold a total of 1,54,13,395 shares, amounting to 0.55 per cent stake, of the the debt-ridden company.

Shares were offloaded at Rs 12.63 apiece, valuing the transaction at Rs 19.46 crore, the data showed.

merged with RCom in October 2017. The company had 10 per cent stake at the time of merger.

In March, some of the minority stakeholder in swapped their shares with that of RCom which brought down SSTL holding in the company to 7.09 per cent.

RCom shares today closed 7.04 per cent lower at Rs 12.55 apiece on the NSE.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, May 15 2018. 19:25 IST
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