Mumbai: Shares of Reliance Communications Ltd fell 2.2 percent after the company said on Tuesday it is launching a share sale to institutional investors as it looks to reduce debt.
The company said it would sell shares for Rs 142.13 each, or a discount of 5 percent to the floor price, but the company did not specify the number of shares being sold in the offering.
Sources had told Reuters earlier that the company is likely to raise USD 500 million through the share sale.
Zee News App: Read latest news of India and world, bollywood news, business updates, cricket scores, etc. Download the Zee news app now to keep up with daily breaking news and live news event coverage.
