The board of Reliance Industries Ltd on Thursday approved a rights issue of ₹53,125 crore in the ratio of 1:15 priced at ₹1,257 per share.

Promoters will subscribe to their full entitlement of the rights issue and also to all the unsubscribed portion, the company said in a statement.

The rights issue will enable participation of all shareholders in growth business of Reliance, it said.

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