Stocks

RIL rights issue subscribed 1.59 times

Our Bureau Mumbai | Updated on June 04, 2020 Published on June 04, 2020

Mukesh Ambani

Reliance Industries said it has achieved successful closure of the country’s largest rights issue of Rs 53,124.20 crore. It was subscribed approximately 1.59 times, cumulating to an overall commitment of over Rs 84,000 crore.

The public part of the rights issue was subscribed 1.22 times. The allotment of equity shares will happen on or about June 10. The rights shares are expected to be listed on the BSE and NSE on or around June 12 under separate ISIN.

The Rights Entitlement (RE) was actively traded, reflecting broad-based interest in the issue. This is the first instance of REs being traded in demat form on the stock exchanges since SEBI introduced this platform.

Chairman and Managing Director of Reliance Industries Ltd, Mukesh Ambani, said, “The success of RIL’s rights issue, seen in the context of the prolonged nationwide lockdown necessitated by the Covid-19 pandemic, is also a vote of confidence, by both domestic investors, foreign investors and small retail shareholders, in the intrinsic strength of the Indian economy. I have no doubt that the Indian economy will bounce back to follow a high-growth trajectory in the time to come, and make India a leading digital nation in the world.”

 

Read also: Reliance Industries to be debt-free by year-end

 

Published on June 04, 2020
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