Business

RIL rights issue closes, subscribed 1.59 times

Value of total bids pegged at ₹84,000 cr.

The rights issue of Reliance Industries, which closed on Wednesday, was subscribed 1.59 times with the value of total bids pegged at ₹84,000 crore.

The allotment of equity shares will be done around June 10, the company said in a release adding that the rights shares would be listed around June 12.

The rights issue, the biggest in India till date at ₹53,124.20 crore, saw active participation from investors across categories, including domestic and foreign institutional investors along with individuals.

Interestingly, the rights issue was completely done using digital platforms, which was also a first for the Indian capital markets.

Exchange trading

The offering was also the first rights issue in which Rights Entitlements (REs) could be traded on the stock exchange platform with the total value of such trading pegged about ₹9,500 crore.

Trading of REs ended on May 29. Reliance Industries announced a rights offering in the ratio of 1:15 while allowing shareholders to pay the issue price of ₹1,257 in three installments spread over 18 months.

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Printable version | Jul 8, 2020 1:22:24 PM | https://www.thehindu.com/business/ril-rights-issue-closes-subscribed-159-times/article31742228.ece

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