The top management of the company has also decided to defer their personal pay by 21 days till the end of this year.
The company has defaulted on some of the payments to lenders and it has received time till December for strategic restructuring plan under which it will get a seven-month standstill to service loans amounting to Rs 45,000 crore.
Ambani has said that the debt burden will be reduced to Rs 20,000 crore with two deals by September, before the December deadline given by the lenders.
The company has been reeling under a slew of rating downgrades over the last few days, battering its stock.
Shares of RCom were trading at 18.2 a unit, up 0.83 per cent, in the afternoon on BSE.