Reliance Communications Enterprise, a promoter firm of debt-ridden telecom operator RCom, today pledged shares worth Rs 304 crore with Housing Development Finance Corporation Limited.

As per a regulatory filing Reliance Communications Enterprise has pledged 13.4 crore shares accounting for 4.85 per cent of total share capital of Reliance Communications with Housing Development Finance Corporation. These shares at last closing price of RCom scrips are estimated to be valued around Rs 304 crore.

Shares of RCom today closed at Rs 22.7 a unit, down by 9.74 per cent compared to previous close on BSE today.