Thursday , October 21 2021

Reliance Industries’ rights issue received bumper response from investors, 159% subscription on last day

Delhi: The rights issue of Reliance Industries-RIL led by industrialist Mukesh Ambani got a 159 percent subscription on the last day on Wednesday (3 June 2020). This is the largest rights issue in the country brought by the company to raise Rs 53,124 crore. This is the world’s largest rights issue brought by a non-financial company in the last decade. The company said in a statement that the company has been subscribed to 1.22 times in its public category.

The estimated value of the total bid is about Rs 84 thousand crores. In
this issue, the company offered 42.26 crore shares to its shareholders. By the end of the issue on June 3, the estimated value of the total bids received by the company’s shares is about Rs 84 thousand crores. The board of directors of the company will meet on June 10 to approve the allocation of rights issue shares. These rights issue shares are expected to be listed separately on BSE and NSE on 12 June 2020.

 

In this regard, Chairman and Managing Director of Reliance Industries Limited Mukesh Ambani said that I want my dear and respected shareholders to participate in this rights issue and to set a new paradigm in the history of India’s capital market and make it a symbol of pride. I express my heartfelt thanks. He said that since the time of Dhirubhai, the founder of the company, the shareholders of the company have been the biggest source of his power.

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