RCom jumps over 6% on monetisation of realty assets

Shares of Reliance Communications

today surged over 6 per cent after the company said it has

started the process to monetise its real estate assets in

Delhi and Mumbai as part of efforts to pare debt.

The stock, after a positive opening, gained 5.82 per cent

to Rs 20.90 on the BSE.

On the NSE, it went up by 6.34 per cent to Rs 20.95.

Reliance Communications, which is saddled with Rs 45,000

crore of debt, has got a 7-month reprieve from banks to

service it.

"We wish to inform... that the company has initiated the

monetisation programme for its real estate properties," the

company said in a regulatory filing yesterday.

The company has come out with advertisement in newspapers

to sell or lease Reliance Centre building in Delhi. It has

also listed DAKC IT Park in Navi Mumbai for sale or lease.

Like its larger rivals, RCom too has been hit hard by

intense price war unleashed by Reliance Jio.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)