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.

“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.