Industry

RIL fixes May 14 as record date for India’s largest issue

The company has obtained in-principle approvals from BSE and NSE for the proposed rights issue of 42.26 crore equity shares.

Mukesh Ambani led Reliance Industries Limited (RIL) has fixed May 14 as the record date for the purpose of determining the equity shareholders entitled to receive rights entitlement in the India’s biggest rights issue.

“The decision was taken by the Rights Issue Committee constituted by the Board of Directors of the Company at its meeting held on Sunday, May 10,” the company said in filing to the exchanges.

RIL board, on April 30, approved issuance of company’s equity shares of ₹10 each of an issue size of ₹53,125 crore by way of rights issue at price of ₹1,257 per share and the share ratio at 1:15.

The company has obtained in-principle approvals from BSE Limited and the National Stock Exchange of India Limited for the proposed rights issue of 42.26 crore equity shares.

The RIL promoters confirmed that in addition to subscribing to their aggregate entitlement in full, they will also subscribe to all the unsubscribed portion.

“The company has obtained International Securities Identification Number (ISIN): INE002A20018 for the purpose of credit of the rights entitlements in accordance with the provisions of Regulation 77A of the Securities and Exchange Board of India,” said a company statement adding that the rights issue opening and closing dates will be informed separately.

RIL shares on BSE closed up 3.62% at ₹1561.80 in a firm Mumbai market on May 8, valuing the company at ₹9.9 lakh crore.

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Printable version | Jul 9, 2020 7:03:34 AM | https://www.thehindu.com/business/Industry/ril-fixes-may-14-as-record-date-for-indias-largest-issue/article31549477.ece

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