Shares of Reliance Communications (RCom) on Wednesday rose 9.5 per cent after the Anil Ambani firm said its bondholders have approved the sale of assets to Reliance Jio Infocomm and monetisation of other real estate properties.
The stock jumped 8.86 per cent to close at Rs 25.20 on the BSE. Intra-day, it jumped 12 per cent to Rs 25.95.
In a statement, RCom said that the bondholders also approved the release of their security on the company's assets and to accept part prepayment of their outstanding bonds.
"The holders of the company's USD 300 million bonds, on 20 March 2018 in London, have approved with overwhelming majority the sale of assets to Reliance Jio Infocomm Limited and also monetisation of other real estate assets," the company said in a statement. In December 2017, Reliance Jio had announced a deal to acquire mobile business assets of RCom.