Key Developments: Reliance Communications Ltd (RLCM.NS)

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Latest Key Developments (Source: Significant Developments)

Reliance Communications Ltd's subsidiary raises via global bonds-Business Standard
Friday, 25 Jul 2014 05:28am EDT 

Reliance Communications Ltd:Submarine cable arm of Reliance Communications, Global Cloud Xchange is raising about 21.00 bln Indian Rupees ($350 million) through a debt bond from overseas market mainly to refinance debt-Business Standard.  Full Article

Reliance Communications Ltd to reduce headcount-Business Standard
Tuesday, 8 Jul 2014 08:58am EDT 

Reliance Communications Ltd:Will reduce its workforce by up to 5,500 employees from BPO and shared services operations-Business Standard.  Full Article

Reliance Communications Ltd closes QIP Issue
Friday, 27 Jun 2014 08:48am EDT 

Reliance Communications Ltd:Has closed the QIP Issue and approved the issuance of 338,286,197 equity shares of face value of five Indian Rupees each to Qualified Institutional Buyers (QIBs).It is at an issue price of 142.14 Indian Rupees per share, including a premium of 137.14 Indian Rupees per share, aggregating about 48.08 Bln Indian Rupees.  Full Article

Reliance Communications Ltd to launch up to $500 million share sale-Economic Times
Tuesday, 24 Jun 2014 05:15am EDT 

Reliance Communications Ltd:Is set to launch as early as Tuesday an up to $500 million share sale to institutional investors-Economic Times.A Reliance Communications spokesman declined to comment on the share sale.  Full Article

Reliance Communications Ltd signs master services agreement with Reliance Jlo Infocomm
Monday, 7 Apr 2014 02:39am EDT 

Reliance Communications Ltd:Reliance Jio Infocomm Ltd and Reliance Communications Ltd. signs master services agreement for sharing of RCOM's extensive intra-city optic fiber infrastructure.Under the terms, Reliance Jlo Infocomm will utilize RCM's nationwide intra-city fiber network for accelerated roll-out of its state-of-the-art 4G services across India.The agreement is based on arm's length pricing at prevailing market prices.  Full Article

Reliance Communications Ltd appoints CEO
Monday, 10 Feb 2014 08:15am EST 

Reliance Communications Ltd:Says Vinod Sawhny appointed CEO.  Full Article

Reliance Communications Ltd undergoes fresh rejig to split GSM from CDMA-Economic Times
Sunday, 12 Jan 2014 05:30pm EST 

Reliance Communications Ltd:Says it is undergoing a new round of restructuring, aimed at separating the mobile phone growing GSM business from the lagging CDMA operations, which could even be sold off at a later stage to pare debt-Economic Times.  Full Article

Reliance Communications Ltd To Unlock Substantial Shareholder Value By Demerger Of Real Estate Into Separate Company
Sunday, 7 Jul 2013 10:44pm EDT 

Reliance Communications Ltd announced that its Board of Directors has in-principle decided on a demerger of the real estate held by RCOM into a separate unit, Reliance Properties Ltd., to unlock substantial value for the benefit of its approximately two million institutional and retail shareholders. The proposed separation of real estate into a separate unit is part of RCOM's strategic plan to divest non-core assets, and focus on its core wireless and enterprise business. Reliance Properties Ltd. will be a separate listed Company. All shareholders of RCOM will receive fully tradeable pro-rata shareholding in Reliance Properties Ltd., FREE OF COST, based on their existing shareholding in RCOM. Reliance Properties will work with leading global partners to develop the real estate, and unlock this value for the benefit of its approximately two million shareholders. The properties proposed to be developed by Reliance Properties include inter alia: Prime land at Dhirubhai Ambani Knowledge City, Navi Mumbai measuring nearly 135 acres, with saleable area of over 15 million sq. ft. and Prime property near Connaught Place, New Delhi measuring nearly 4 acres.  Full Article

Reliance Communications Ltd And Reliance Jio Infocomm Limited Strike INR12,000 Crore (INR120 Billion) Tower Pact-Business Standard
Friday, 7 Jun 2013 01:52am EDT 

Business Standard reported that Reliance Communications Ltd has signed a INR12,000-crore (INR120 billion) tower sharing deal with Reliance Jio Infocomm Limited. Under the terms of the agreement, Reliance Jio Infocomm will utilise upto 45,000 ground and rooftop based towers across RCom’s nationwide network for accelerated roll-out of its 4G services. The agreement provides for joint working arrangements to configure the scope of additional towers to be built at new locations to ensure deep penetration and seamless delivery of next generation services.  Full Article

Reliance Industries Ltd and Reliance Communications Ltd Strike Telecoms Tower Pact-Reuters
Friday, 7 Jun 2013 01:49am EDT 

Reuters reported that Reliance Industries Ltd's telecommunications unit will lease up to 45,000 mobile masts from Reliance Communications Ltd in a deal valued at more than INR120 billion ($2.1 billion) over the lifetime of the contract, the Indian companies said.  Full Article

INDIA PRESS-Reliance Communications plans to cut 37 pct workforce by month-end-Economic Times

Note: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Aby Jose Koilparambil in Bangalore)

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