Redemption made at premium of 25.84%; Redemption made on due date of May 9, 2011.
Mumbai, May 10, 2011: Reliance Communications, India's largest integrated telecom service provider, has redeemed all the outstanding Foreign Currency Convertible Bonds (FCCBs) from the US$ 500 million (Rs. 2,250 crore) issue in May 2006.
Redemption has been made at a premium of 25.84%. The company made the payment on the due date of May 9th 2011. The equity capital of the company stands consistent, post the redemption of the FCCBs. Accordingly, it is not necessary for Reliance Communications to allot 2,74,13,085 equity shares of Rs. 5 each arising out of the potential conversion - said by FCCBs.
About Reliance Communications: Reliance Communications Limited founded by the late ShriDhirubhai H Ambani (1932-2002) is the flagship company of the Reliance Anil Dhirubhai Ambani Group. The Reliance Anil Dhirubhai Ambani Group currently maintains a net worth in excess of Rs. 64,000 crore (US$ 13.6 billion), cash flows of Rs. 13,000 crore (US$ 2.8 billion), net profit of Rs. 8,400 crore (US$ 1.8 billion).
Reliance Communications is India's foremost and truly integrated telecommunications service provider. The Company , running with customer base of over 138 million including over 2.5 million individual overseas retail customers, ranks among the Top 4 Telecom companies in the world by number of customers in a single country. Reliance Communications corporate clientele includes 2,100 Indian and multinational corporations, and over 800 global, regional and domestic carriers.
Reliance Communications has established a pan-India, next generation, integrated (wireless and wireline), convergent (voice, data and video) digital network that is capable of supporting best-of-class services reach the entire communications value chain, covering over 24,000 towns and 600,000 villages. Reliance Communications owns and operates the world's largest next generation IP authorized connectivity infrastructure, comprising over 277,000 kilometers of fibre optic cable systems in India, USA, Europe, Middle East and the Asia Pacific region.
Mumbai, May 10, 2011: Reliance Communications, India's largest integrated telecom service provider, has redeemed all the outstanding Foreign Currency Convertible Bonds (FCCBs) from the US$ 500 million (Rs. 2,250 crore) issue in May 2006.
Redemption has been made at a premium of 25.84%. The company made the payment on the due date of May 9th 2011. The equity capital of the company stands consistent, post the redemption of the FCCBs. Accordingly, it is not necessary for Reliance Communications to allot 2,74,13,085 equity shares of Rs. 5 each arising out of the potential conversion - said by FCCBs.
About Reliance Communications: Reliance Communications Limited founded by the late ShriDhirubhai H Ambani (1932-2002) is the flagship company of the Reliance Anil Dhirubhai Ambani Group. The Reliance Anil Dhirubhai Ambani Group currently maintains a net worth in excess of Rs. 64,000 crore (US$ 13.6 billion), cash flows of Rs. 13,000 crore (US$ 2.8 billion), net profit of Rs. 8,400 crore (US$ 1.8 billion).
Reliance Communications is India's foremost and truly integrated telecommunications service provider. The Company , running with customer base of over 138 million including over 2.5 million individual overseas retail customers, ranks among the Top 4 Telecom companies in the world by number of customers in a single country. Reliance Communications corporate clientele includes 2,100 Indian and multinational corporations, and over 800 global, regional and domestic carriers.
Reliance Communications has established a pan-India, next generation, integrated (wireless and wireline), convergent (voice, data and video) digital network that is capable of supporting best-of-class services reach the entire communications value chain, covering over 24,000 towns and 600,000 villages. Reliance Communications owns and operates the world's largest next generation IP authorized connectivity infrastructure, comprising over 277,000 kilometers of fibre optic cable systems in India, USA, Europe, Middle East and the Asia Pacific region.
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