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Reliance Communications Announces Promoter Reclassification Request

Story Highlights
  • Reliance Communications is under insolvency resolution, managed by a resolution professional.
  • Reliance Capital seeks reclassification from ‘Promoter’ to ‘Public’ category.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Reliance Communications Announces Promoter Reclassification Request

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Reliance Communications Limited ( (IN:RCOM) ) has provided an update.

Reliance Communications Limited has informed the stock exchanges about a request from Reliance Capital Limited for reclassification of its shareholding from the ‘Promoter’ category to the ‘Public’ category. This move is part of the company’s ongoing insolvency resolution process, and the resolution professional is seeking legal advice on the matter.

More about Reliance Communications Limited

Reliance Communications Limited is a telecommunications company based in Navi Mumbai, India. It is currently under corporate insolvency resolution process and its operations are managed by a resolution professional.

Average Trading Volume: 1,393,131

Technical Sentiment Signal: Sell

Current Market Cap: 4.15B INR

For detailed information about RCOM stock, go to TipRanks’ Stock Analysis page.

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