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Anil Ambani's stake dips to 22% in RCom; Banks sell 15.6% pledged shares

RCom had a debt of Rs 45,000 crore

The Anil Ambani-owned firm on Wednesday announced the completion of its Mumbai power distribution business sale to Adani Transmission for Rs 188 billion
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The Anil Ambani-owned firm on Wednesday announced the completion of its Mumbai power distribution business sale to Adani Transmission for Rs 188 billion

Dev Chatterjee Mumbai
Anil Ambani group’s stake in Reliance Communications fell to 21.97 per cent after its lenders — IndusInd Bank and RattanIndia Finance — invoked the shares pledged with them and sold it in the markets.  

The lenders invoked and sold 15.6 per cent of RCom stakes pledged to them, said a source close to the development. The source said that the rest of Anil Ambani group’s stake was not pledged with the banks.

While IndusInd Bank invoked 4.52 per cent from the total 9.37 per cent stake pledged with it, RattanIndia Finance invoked pledged shares with total stake of 11.08 per

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First Published: Mar 28 2019 | 9:52 PM IST

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