In November of this year, NCLT had given its nod to RPPMSL for a 100% stake acquisition of Reliance Infratel. After the approval; Reliance had deposited the sum of Rs 3,720 crore in an SBI escrow account to fully purchase the mobile tower and fibre assets of Reliance Infratel.
RITL holds fiber assets of around 1.78 lakh route kilometers and 43,540 mobile towers in India.
Reliance Projects and Property Management Services (RPPMSL); Reliance Jio’s subsidiary has completely acquired Reliance Infratel for a whopping Rs 3,720 crore, RIL said in a statement on Thursday. RIL’s telecom arm Reliance Jio had made a bid of Rs 3,720 crore in November 2019 for a 100% stake acquisition of “the tower and fibre assets” of the debt-ridden subsidiary of Reliance Communications; once managed by Anil Ambani.
RIL in a regulatory filing on 23rd December said that Reliance Infratel allotted to RPPMSL i.e. Reliance Projects and Property Management Services; 50 lakh equity shares for a face value of Rs 10 each aggregating Rs 5 crore; and 372 crores zero coupon optionally fully convertible debentures each of Rs 10, for cash, totaling to Rs 3,720 crore.
In November of this year, NCLT had given its nod to RPPMSL for a 100% stake acquisition of Reliance Infratel. After the approval; Reliance had deposited the sum of Rs 3,720 crore in an SBI escrow account to fully purchase the mobile tower and fibre assets of Reliance Infratel. RITL holds fiber assets of around 1.78 lakh route kilometers and 43,540 mobile towers in India.
