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| Edited By: Manuja Pandey |Source: DNA |Updated: Mar 17, 2018, 05:17 AM IST
Reliance Communications Ltd plans to seek shareholder approval at its annual general meeting on September 28 to raise funds via a qualified institutional placement of shares, the company said in a notice to shareholders.
This fund-raising plan is additional to the company’s plan to dilute up to 26% to a strategic or financial investor.
The Anil Dhirubhai Ambani Group owned telecom major has been looking to raise shareholder funds for some time now, to fund expansion plans and to reduce burgeoning debt.
The company’s net debt was Rs28,000 crore as of June 30.
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