Anil Ambani-led Reliance Communications today informed that it had got the nod from the market regulator Securities Exchange Board of India (SEBI) and the requisite stock exchanges for the proposed demerger of its wireless division into telecom firm Aircel Ltd.

Reliance Communications got the approval from Securities and Exchange Board of India, BSE and BSE for the proposed scheme of arrangement for the demerger of the wireless arm of the company into Aircel Ltd and Dishnet Wireless Ltd, reliance informed in a regulatory filing.

The Company further said that they have filed an application with National Company Law Tribunal (NCLT), Mumbai bench, for the approval of the said Scheme. The proposed transaction is subject to other further necessary approvals. 

Share of Reliance Communications was up at 2.48 percent higher at Rs 37.15 on BSE.

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