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Reliance Comunications gets Sebi nod for merger with Aircel

Shares of Reliance Communications were trading at 2.48 per cent higher

Press Trust of India  |  New Delhi 

As Reliance group shrinks, questions emerge

Communications today said it has received approvals from markets regulator and the stock exchanges for proposed demerger of its wireless business into Aircel Ltd.

"Communications has received approval of the Securities and Exchange Board of (SEBI), and for the proposed scheme of arrangement for demerger of the wireless division of the company into Aircel Ltd and Dishnet Wireless Ltd," the company said in a regulatory filing.

It further said: "Pursuant to the same, Communications has filed an application with Tribunal (NCLT), Bench, for approval of the said Scheme. The proposed is subject to other necessary approvals".

of were trading at 2.48 per cent higher at Rs 37.15 on

First Published: Wed, March 15 2017. 13:05 IST
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