Reliance Rights Issue Reliance Industries Fixes 14 May As Record Date For Rights Issue

The rights concern is Reliance’s first of its sort in nearly 30 years

In a regulatory submitting to the exchanges late on Saturday, Reliance Industries stated that the corporate has mounted 14 May because the ‘document date’ for figuring out the fairness shareholders entitled to issuance of rights.

The firm has additionally obtained in-principle approvals from BSE and NSE for the proposed rights concern of 42,26,26,894 fairness shares, Reliance Industries additionally said within the launch, including that the opening and shutting dates for the rights concern can be knowledgeable individually.

Last month, whereas reporting its fourth quarter earnings, Reliance Industries had authorized a fund elevating plan of Rs 53,125 crore through rights concern, which it stated was the most important in India. The ratio could be 1:15 at a worth of Rs 1,257. Promoters of the corporate will subscribe to their full entitlement of the rights concern and in addition to all of the unsubscribed portion, Reliance Industries had stated. The rights concern is Reliance’s first of its sort in nearly 30 years.

On Friday,┬áReliance Industries’ inventory went closed at Rs 1561.80, up 3.62 p.c.

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