RJio, UVARCL emerge top bidders for RCom assets with bids worth ₹25,000 cr

Lenders to beleaguered telecom operator Reliance Communications have received bids worth ₹25,000 crore for its assets put on sale, with Mukesh Ambani-controlled Reliance Jio Infocomm (RJio) and UV Asset Reconstruction Company Ltd (UVARCL) emerging as the highest bidders.

RJio has placed a ₹4,700-crore bid for tower and fibre assets of Reliance Infratel Ltd (RITL), a subsidiary of RCom. UVARC’s bid was at ₹16,000 crore for spectrum, real estate assets, enterprise and data centre businesses held by RCom and another subsidiary, Reliance Telecom Ltd (RTL).

There was a meeting of the Committee of Creditors (CoC) on Monday to finalise the bids, sources close to the development told BusinessLine.