Receives Rs 650 crore or 50% of issue price of warrants
Reliance Communications announced that the Committee of Directors on 07 August 2014 have allotted 8,66,66,667 Warrants entitling for subscription of equivalent number of equity shares of Rs. 5/- each at a price of Rs. 150/- per Warrant (including a premium of Rs. 145 per equity share) as per provisions of Chapter VII of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirement) Regulations, 2009.The Company has received Rs. 650 crore from Telecom Infrastructure Finance equivalent to 50% of the issue price of the Warrants and balance amount of Rs. 650 crore will be received upon exercising right to subscribe equity shares against said Warrants on or before 31 March 2015.
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