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Reliance Communications lenders sell 120 million pledged shares

March 14, 2019
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Reliance Communication's (RCOM’s) lenders have sold 120 million pledged shares, accounting for 4.34 per cent stake of promoters in the telecom company. The sale was a result of lenders invoking shares pledged with them.

According to a Bombay Stock Exchange (BSE) filing, the pledged shares belonged to promoters including Anil Ambani, his family members and RCOM group entities.

After this sale, the promoters' stake in the company has declined from 41.91 per cent to 37.57 per cent.

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