RCom promoter pledges shares worth Rs 300 crore

A promoter of telecom operator Reliance Communications has pledged 7 crore shares valued at around Rs 300 crore with L&T Finance Limited on September 28.

Reliance Wind Turbine Installators Industries Private Limited, which holds 12.05 per cent in RCom, has pledged 7 crore shares to L&T Finance Limited, as per a BSE Filing.

As per closing price of RCom stock on September 28, the value of pledged shares is around Rs 334 crore.

Shares of RCom closed at Rs 46.3 a unit, up by 8.81 per cent, at BSE on Friday.