Reliance Communications Limited (RCOM) announced its exit from RBI’s SDR framework, with zero equity conversion and zero loan write-offs for lenders and bond holders. Upon completion of all transactions as announced, the balance debt in RCOM is expected to be ~Rs.6,000 crore only, representing reduction of over 85% of total debt.

Speaking on the occasion, Mr. Anil D. Ambani, Chairman, Reliance Communications Ltd., said, “I am delighted with the comprehensive resolution for the benefit of all stakeholders of RCOM. What we have achieved, in the face of extraordinary challenges, is truly historic and unprecedented in Indian corporate history."

RCOM has worked closely with all Lenders and SBI Capital Markets Limited, the advisors appointed by the Lenders, to run a competitive process in a transparent manner to monetize its valuable assets comprising:
• 122.4 MHz of 4G Spectrum in the 800/900/1800/2100 MHz bands
• Over 43,000 towers, amongst the Top 3 independent tower holdings in India
• ~1,78,000 RKM of fiber with Pan India footprint
• 248 Media Convergence Nodes, covering ~5 million sq ft, used for hosting telecom infrastructure
• Prime real estate located in New Delhi, Chennai, Kolkata, Jigni and Tirupati

RCOM’s continuing operations will comprise stable and profitable B2B focused businesses, including Indian and global enterprise, Internet data centers and the largest private submarine cable network in the world. These B2B businesses are stable, capital light and have sustained and predictable annuity revenues and profits, with immense growth potential amidst relatively low competitive intensity.