United States

Key Developments: Reliance Communications Ltd (RLCM.NS)

RLCM.NS on National Stock Exchange of India

6:23am EDT
Change (% chg)

Rs0.05 (+0.09%)
Prev Close
Day's High
Day's Low
Avg. Vol
52-wk High
52-wk Low

Search Stocks

Latest Key Developments (Source: Significant Developments)

Aktsionernaya Finansovaya Korporatsiya Sistema OAO announces merger of its Indian telecommunications business with business of Reliance Communications Ltd
Sunday, 1 Nov 2015 07:00pm EST 

Aktsionernaya Finansovaya Korporatsiya Sistema OAO:Announces the signing of binding documents regarding the merger of Sistema's Indian telecommunications business with business of Reliance Communications Ltd.The signed documentation provides for the demerger of the telecommunication business from Sistema Shyam TeleServices Ltd (SSTL) and its merger with the telecommunications business of Reliance Communications Ltd (RCom).As a result of the merger, SSTL will acquire and hold a 10 pct equity stake in RCom.In addition, prior to the transaction's completion, SSTL plans to pay off existing debt.Following the completion of the transaction, RCom will take responsibility for payment of SSTL's frequency spectrum licensing fees payable by installments to the Department of Telecommunications of India.An appropriate earn-out mechanism has also been agreed in relation to disputed spectrum contiguity charges claimed by the Department of Telecommunication of India.The closing of the transaction is expected in the second quarter of 2016.Post closing of the deal, minority shareholders of SSTL will be given an option to exchange their shares in SSTL with the pro-rata RCom shares held by the company.  Full Article

ZTE Corp signs contract with Reliance Communications India
Tuesday, 13 Oct 2015 11:30pm EDT 

ZTE Corp:Has signed a new 100G optical transportation network (OTN) contract with Reliance Communications India.  Full Article

Aktsionernaya Finansovaya Korporatsiya Sistema OAO's Indian unit, Reliance Communications Ltd in merger talks
Sunday, 14 Jun 2015 08:00pm EDT 

Aktsionernaya Finansovaya Korporatsiya Sistema OAO:Says that it has entered into exclusive discussions with Reliance Communications (RCOM) on a potential merger between the Indian telecom business of Sistema Shyam TeleServices Ltd. (SSTL) and RCOM, through a stock swap.The discussions are indicative and non-binding in nature, and remain subject to due diligence, definitive documentation and approvals, as may be necessary.There is no certainty that any transaction will result.  Full Article

Datawind Inc partners with Reliance Communications to provide affordable internet access across india
Tuesday, 17 Mar 2015 07:00am EDT 

Datawind Inc:Says details of its previously disclosed carrier relationship.DataWind is partnering with Reliance Communications to offer bundled unlimited internet browsing for one-year with any of its devices across Reliance Communications' entire Indian coverage network.In addition, DataWind has launched three new smartphone models.  Full Article

Reliance Communications Ltd announces credit rating from Fitch and Moody's
Tuesday, 3 Mar 2015 12:50am EST 

Reliance Communications Ltd:Says that Fitch Ratings (Fitch) has assigned a long-term foreign- and local-currency issuer default ratings (IDR) of 'BB-' (stable outlook) to the company.Moody’s Investors Services (Moody's), has assigned corporate family rating (CFR) of Ba3 (Stable Outlook) to the company.Says that this is first time that Fitch and Moody's have assigned ratings to the company.  Full Article

Reliance Communications Ltd announces appointment of auditor
Tuesday, 30 Sep 2014 04:53am EDT 

Reliance Communications Ltd:Announced the appointment of M/s. Chaturvedi & Shah, Chartered Accountants and M/s. B S R & co. LLP, Chartered Accountants, as the auditors of the company.  Full Article

Reliance Communications Ltd promoter group invests 6.50 bln Indian rupees ($ 108 mln) in RCOM by subscription of warrants on preferential issue
Thursday, 7 Aug 2014 02:23am EDT 

Reliance Communications Ltd:Promoter group invests 6.50 bln Indian rupees ($ 108 mln) in Rcom by subscription of warrants on preferential issue.Promoter group is investing at 150 Indian rupees per equity share.Balance investment of 6.50 bln Indian rupees (U pct 108 mln) will be made by promoters before March. 31, 2015.RCOM consolidated net worth rises to 313.69 bln Indian rupees ($ 5.14 bln).RCOM to use proceeds of preferential issue to reduce debt.Pursuant to resolution passed by shareholders of company at an extra ordinary general meeting of the shareholders of the company held on July 24 committee of directors have allotted, 86.7 mln Indian rupees warrants.Says which entitle equivalent number of equity shares of 5 Indian Rupees each at price of 150 Indian Rupees per share (including a premium of 145 Indian Rupees per share).Aggregating to 13 bln Indian Rupees ($ 216 mln) to Telecom Infrastructure Finance Private Limited, a Promoter Group company, as per provisions of the Securities and Exchange Board of India.Company has received 6.50 bln Indian rupees ($ 108 mln) from Telecom Infrastructure Finance Private Limited equivalent to 50 pct of the issue price of the Equity Shares upon allotment of Warrants and balance amount of 6.50 bln Indian rupees ($ 108 mln) will be received on or before March 31, 2015.Promoter Group is investing at 150 Indian Rupees per equity share.  Full Article

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

Fitch Affirms Reliance Communications' at 'BB-'; Outlook Stable

(The following statement was released by the rating agency) SINGAPORE, March 02 (Fitch) Fitch Ratings has affirmed India-based telecoms service provider Reliance Communications Limited's (Rcom) Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDR) of 'BB-'. The Outlook is Stable. Fitch has simultaneously affirmed the 'BB-' rating on Rcom's USD300m 6.5% senior secured notes due 2020. KEY RATING DRIVERS Deleveraging is Likely: The affirmation factors in Rcom's commitment to delev

Search Stocks