RCom plans to issue shares to lenders in lieu of debt

RCom plans to issue shares to lenders in lieu of debt

Keeping up with the current trend of offer fever, the company took to Twitter and said,"Reliance Mobile introduces the lowest rates ever!" The company announced the all-new rental plan in a tweet on Wednesday. The broadband services prices have expected to start at Rs 500 for 600 GB data for 1000 GB data at 100 Mbps speed subscribers that have required to pay Rs 2,000 a month later when the offer period ends.

Reliance Communications (RCom) has rolled out a new rental plan for its subscribers.

Anil Ambani, Chairman of Reliance Communications.

Just to note, Rcom is owned by Mukesh Ambani's brother Anil Ambani and is now struggling to stay afloat in the face of steep competition in the Indian market. Under the new offer users can avail 1GB 4G data per day for a year.

Venkaiah Naidu sworn in as India's 13th Vice-President
Soon after he was administered oath as the 15th Vice President of India , Naidu took over as the Chairman of the Upper House. BJP general secretary Kailash Vijaywargiya went a step further saying Mr Ansari was doing this for a political position.

Data war in India has become intense thanks to the entry of Reliance Jio.

Since the details of the RCom 299 offer are unavailable, we don't know if there's an FUP (fair usage policy) cap or a daily 4G data limit as with Reliance Jio. The company has announced their brand new Rs 299 rental plan for the subscribers.

Telecom operator Reliance Communications, which is reeling under debt of about Rs45,000 crore, plans to issue shares to lenders for the debt that it has raised from them, as per a regulatory filing of the company. Additionally, customers can also get a Wi-Fi dongle "Wi-Pod" worth Rs 3,200 under the bundled offer for free. This pack offers 84Gb data for 84 Days, Unlimited calls and messages. Meanwhile, Jio going on with its Jio Dhan Dhana Dhan Offer at a cost of Rs.399 offering Unlimited calls and Data. RCom, earlier this year, received 99.99 percent shareholders' approval for the merger of its wireless business with Aircel. Telecom operators like Airtel, Idea, Vodafone, BSNL, and more are at loggerheads to provide the most affordable data tariffs. Vodafone also launched a new plan, the First Recharge (FR) - 445, aimed at new 4G prepaid users in Maharashtra and Goa.

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