Reliance Communications is continuing to focus on divesting its non-core assets and focusing on its wireless and enterprise businesses.
As per news reports, the company?s board of directors approved of demerging its real estate assets into a separate firm, namely Reliance Properties Limited (RPL).
In a statement, the company said that the demerger is subject to shareholder and regulatory approvals.
Meanwhile, the operator?s shareholders will reportedly receive fully-tradeable pro-rata shareholding in the new entity, free of cost, based on their existing shareholding in RCOM.
