Sistema Shyam lowers stake in RCom to 4.43%

Sistema Shyam Teleservices Ltd (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 Reliance Communications (RCom), thereby reducing its stake to 4.98 per cent.

According to bulk deal data available with the National Stock Exchange (NSE), SSTL 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.

SSTL 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 SSTL 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.