RCom Lenders Extend Deadline By 10 Days To Enable RJio Place Bid

Lenders of debt-laden Reliance Communications (RCom) have agreed to extend the deadline for submitting bids by another 10 days to enable Reliance Jio Infocomm (RJio) place its offer for the company’s assets.

- Rajesh Kurup

“The Committee of Creditors (CoC), which met today, agreed to provide an extension as sought by RJio. The bids will now open on November 25,” a source close to the development told BusinessLine.

When contacted, RJio declined to comment.

On Tuesday, RCom received bids from firms including Sunil Mittal-controlled Bharti Airtel and Bharti Infratel and PE firm Varde Partners for its assets that are up for sale. RCom, which is undergoing insolvency proceedings, has a total secured debt of about ₹33,000 crore.