RCom, with a net debt of Rs42,000 crore as of end-June, expects to cut this by Rs20,000 crore as it transfers part of the debt to the new venture. “We are looking at around a billion dollar of investment into the company,” Punit Garg, President at RCom, said on a conference call on Thursday. The combined company will start with bank debt of about Rs28,000 crore ($4.2 billion) on its books, RCom executives said. Aircel, with about Rs18,000 crore in debt, will cut it by Rs4,000 crore through sale of airwaves and mobile masts, RCom executives said. It will transfer the remainder Rs14,000 crore in debt to the new venture.

Source: Mint September 15, 2016 15:45 UTC