Reliance Communications (RCom) is seeking board approvals to “unlock” value in real estate properties held by the company and its subsidiaries.
However, details of the unlocking (such as whether it was planning to sell the real estate space or develop it) were not disclosed.
The company, in a regulatory filing, said a board meeting has been convened on Sunday (July 7) to consider the proposal.
In December last year, Reliance Group had entered into partnership with China’s Wanda Group, a leading real estate developer, to set up a joint venture, covering several areas of mutual interest.
The proposed JV would also develop integrated township projects in India, including commercial buildings and residential condos, apartments and hotels.