Reliance Comm raises 48 billion rupees via share sale - sources

REUTERS - Reliance Communications Ltd has raised 48 billion rupees ($804.02 million) in its share sale that was announced on Tuesday, as the telecommunications company looks to reduce debt.

People familiar with the matter said the company received total bids of about 120 billion rupees.

Reliance Communications shares were trading down 2 percent at 148.40 rupees on the National Stock Exchange.

($1 = 59.7000 rupees)

(Reporting by Abhishek Vishnoi and Nivedita Bhattacharjee in Mumbai; Editing by Anupama Dwivedi)