At Over Rs 53k Crore, RIL Achieves Successful Closure of India’s Biggest Rights Issue

Mumbai: Reliance Industries on Wednesday said that it has achieved successful closure of India’s largest-ever ‘Rights Issue’ of Rs 53,124.20 crore. Also Read – After Facebook, US Equity Giant KKR Acquires 2.32% Stake in Mukesh Ambani’s Jio Platforms For Rs 11,367 Crore

Accordingly, the issue was subscribed approximately 1.59 times, cumulating to an overall commitment of over Rs 84,000 crore. Also Read – Battling Profitability, Reliance Industries Announces 50% Salary Cut For Employees

“The Rights Issue saw a huge investor interest, including from lakhs of small investors and thousands of institutional investors, both Indian and foreign,” the company said in a statement. Also Read – Sensex Snaps 4-session Slide, Soars 429 Points; Nifty Shoots up 133.40 Points

“The public portion of the Rights issue was subscribed 1.22 times.”

As per the statement, the allotment of equity shares will happen on or about June 10, 2020.

“The rights shares are expected to be listed on the BSE and NSE on or around 12th June 2020 under separate ISIN.”