RCom's asset sale at lower valuations

Deal will help it focus on the remaining business

The Reliance Communications (RCom) stock surged nearly 32 per cent after the firm announced that it is reducing its debt by Rs 25,000 crore over the next three months by selling assets, which will help it exit the strategic debt restructuring process. 

The company, which had a debt of Rs 45,000 crore at the end of October, will sell its telecom towers, fibre network and other assets. It will also monetise its 125-acre real estate at the Dhirubhai Ambani Knowledge City, pegged at Rs 25,000 crore. The special purpose vehicle, which will be holding the real estate assets, will take