Business Companies 15 Mar 2017 RCom gets SEBI nod f ...

RCom gets SEBI nod for merger with Aircel

PTI
Published Mar 15, 2017, 12:48 pm IST
Updated Mar 15, 2017, 12:48 pm IST
Company has also filed application with National Company Law Tribunal for approval of scheme.
Reliance Group chairman Anil Ambani. (Photo: File)
 Reliance Group chairman Anil Ambani. (Photo: File)

New Delhi: Reliance Communications today said it has received approvals from markets regulator SEBI and the stock exchanges for proposed demerger of its wireless business into Aircel Ltd.

"Reliance Communications has received approval of the Securities and Exchange Board of India (SEBI), BSE and NSE for the proposed scheme of arrangement for demerger of the wireless division of the company into Aircel Ltd and Dishnet Wireless Ltd," the company said in a regulatory filing.

 

It further said: "Pursuant to the same, Reliance Communications has filed an application with National Company Law Tribunal (NCLT), Mumbai Bench, for approval of the said Scheme. The proposed transaction is subject to other necessary approvals".

Shares of Reliance Communications were trading at 2.48 per cent higher at Rs 37.15 on BSE.

...
Location: India, Delhi, New Delhi




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
-->