Reliance Industries' rights issue to hit markets on May 20, 2020

Reliance Industries Limited's (the Company) proposed issue of 42,26,26,894 equity shares of face value of Rs. 10 each (Rights Equity Shares) on rights basis (Rights Issue) will open for subscription on Wednesday, May 20, 2020.

The ratio of righst issue is 1 (one) Rights Equity Share for every 15 (fifteen) fully paid-up equity shares held by the eligible equity shareholders of the Company on the Record Date - Thursday, May 14, 2020.

The issue price is Rs. 1,257 per Rights Equity Share and the issue size is Rs. 53124,20,05,758/-.

The amount payable on application is Rs. 314.25 (Face Value - Rs. 2.50, Premium - Rs. 311.75).

The balance amount of Rs. 942.75 (Face Value - Rs. 7.50, Premium - Rs. 935.25) will be paid on one or more subsequent calls as determined by the Board / Committee of the Board, from time to time.

The issue will close for subscription on Wednesday, June 3, 2020.

Shares of RELIANCE INDUSTRIES LTD. was last trading in BSE at Rs.1458.9 as compared to the previous close of Rs. 1435.45. The total number of shares traded during the day was 953907 in over 37182 trades.

The stock hit an intraday high of Rs. 1467 and intraday low of 1415.55. The net turnover during the day was Rs. 1375306823.

Source : Equity Bulls

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