- RIL shareholders will be offered one new share for every 15 held at Rs 1,257 apiece under the issue
- Rights issue is a part of RIL’s plan to become a debt-free company by March 2021
RIL announced on Saturday that it will kick off its Rs 53,125 crore rights issue on May 20 May. Reliance Industries shareholders will be offered one new share for every 15 held at Rs 1,257 a piece which is 13.83% less than LTP of Rs 1458.9 on BSE. The rights issue will close on 3 June.
Initially, shareholders subscribing to the rights issue will have to pay Rs 314.25 per share and the rest of Rs 942.75 in one or more subsequent calls as determined by Reliance Industries.
RIL rights issue is a part of its plan to become a debt-free company by March 2021, whose net debt was Rs 1.53 trillion on 31 December 2019. This is the first rights issue in the last three decades of the firm. Reliance Industries had earlier fixed 14 May as record date for determining shareholders eligibility to apply for the issue.
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