RCom shares surge 40% after new debt reduction plan
Shares of Reliance Communications surged 41% on Tuesday after Chairman Anil Ambani said the company would reduce its debt by about â¹25,000 crore. The new plan will reduce debt through the sale of some of its spectrum, tower and real estate assets. Ambani said the process involves zero write-offs to lenders as well as no conversion of debt to equity.