Mukesh Ambani Led Reliance Industries Ltd Shares Stock Up 2 Percent After Rights Issue

The rights shares are expected to be listed on the BSE and NSE on or around June 12 under a separate ISIN.

Neel Raju Nalawade

June 4, 2020

Business

1 min

zeenews

Share of Reliance Industries Ltd (RIL) experienced an increase of 2 per cent after the company said it has received an overwhelming response to its rights issue worth Rs 53,124 crore which was subscribed 1.59 times. The scrip was trading 2.01 percent higher at Rs 1,573.40 per unit. However, the S&P BSE Sensex was down by 366 points or 1.07 per cent at 33,743. The company has achieved successful closure of India’s largest-ever rights issue of Rs 53,124.20 crore. It was subscribed about 1.59 times cumulating to an overall commitment of over Rs 84,000 crore as per ANI.

“The rights issue saw a huge investor interest, including from lakhs of small investors and thousands of institutional investors, both Indian and foreign. The public portion of the rights issue was subscribed 1.22 times,” RIL said in a press release.
On 10 June 2020, allotment of equity shares will take place. The rights shares are expected to be listed on the BSE and NSE on or around June 12 under a separate International Securities Identification Number (ISIN).

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