RCOM stock gained for the third day. The stock was higher by 11% at Rs. 32.
Yesterday, the stock surged 35% at Rs. 28.74.
The company announced its exit from RBI’s SDR framework, with ZERO equity conversion and ZERO loan write-offs for lenders and bond holders.
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.