RCom sells 150 flats in Navi Mumbai for Rs 330 cr

Aiming to reduce debt, Anil Ambani's Reliance Communications (RCom) has sold about 150 residential flats in Navi Mumbai for Rs 330 crore.

RCom has already received more than 50% of the sale proceeds and the balance amount will be realised in the next 2-3 months, the company said in a statement.

The sale is part of the company's overall strategy to monetise its real estate assets to reduce debt. RCom also plans to announce the sale of its 4-acre property in New Delhi in a prime location.