RCom shares soar 9% on bondholders' approval for assets sale plan

Shares of Reliance Communications (RCom) today soared 9.5 per cent after the company said its bondholders have approved "with overwhelming majority" sale of its certain assets to Reliance Jio Infocomm as also monetisation of other real estate properties.

The stock zoomed 8.86 per cent to settle at Rs 25.20 on BSE. Intra-day, it jumped 12 per cent to Rs 25.95.

At NSE, shares of the company surged 9.52 per cent to close at Rs 25.30.

In terms of equity volume, 144.76 lakh shares of the company were traded on BSE and over 13 crore shares changed hands at NSE during the day.

In a statement, RCom said that the bondholders also approved the release of their security on the company's assets and to accept part prepayment of their outstanding bonds.

"The holders of the company's USD 300 million bonds, on 20 March 2018 in London, have approved with overwhelming majority the sale of assets to Reliance Jio Infocomm Limited and also monetisation of other real estate assets," the company said in a statement.

In December 2017, Mukesh Ambani-led Reliance Jio had announced a mega deal to acquire mobile business assets, including spectrum, mobile towers and optical fibre network of RCom, owned by his younger brother Anil Ambani.