Shares of RCOM zoomed 35% at Rs. 28.74 after company announced its exit from RBI’s SDR framework, with ZERO equity conversion and ZERO loan write-offs for lenders and bond holders.
The balance debt in RCOM is expected to be ~ Rs.6,000 crore only, representing reduction of over 85% of total debt.
The stock has hit a high of Rs. 29.95 and a low of Rs. 23.46.
RCOM has worked closely with all Lenders and SBI Capital Markets Limited, the advisors appointed by the Lenders, to run a competitive process in a transparent manner to monetize its valuable assets.
The monetisation of these assets alone will lead to reduction of RCOM’s debt by ~ Rs. 25,000 crore, through prepayment of loans, transfer of DoT’s deferred spectrum payment liabilities, etc.