Last Updated : Wednesday, June 3, 2020 23:10:16

RIL’s 531 bln rupees Rights Issue get subscribed 1.59 Times @ 840 bln rupees

MUMBAI / RAJKOT – In a regulatory update as submitted to the Indian Stock Exchanges, Mumbai headquartered Mukesh Ambani led Diversified Indian Conglomerate Reliance Group’s flagship company Reliance Industries Ltd said of having received overwhelming response to the company’s rights issue of 531.24 billion (~53,124.20 crore) rupees, which was offered to existing shareholders, which got subscribed 1.59 times amounting to 840 billion (~84,000 crore) rupees.

In a press-release titled, “OVERWHELMING RESPONSE TO RIL’S RIGHTS ISSUE OF RS. 53,124.20 CRORE; SUBSCRIBED 1.59 TIMES”, as attached and enclosed with the regulatory filing, which further read that, this was INDIA’S LARGEST EVER RIGHTS ISSUE and THE WORLD’S LARGEST RIGHTS ISSUE BY A NON-FINANCIAL INSTITUTION IN THE LAST TEN YEARS, the Company Chairman MUKESH AMBANI THANKS SHAREHOLDERS AND REITERATES HIS COMMITMENT TO BUILD “A NEW RELIANCE FOR A NEW INDIA”


The release in details further read that, Reliance Industries Limited today announced that it has achieved successful closure of India’s largest ever Rights Issue of Rs. 53,124.20 crore.

It was subscribed approximately 1.59 times, cumulating to an overall commitment of over Rs.84,000 crore.

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.


The allotment of equity shares will happen on or about 10th June 2020.

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

The Company had launched a highly innovative campaign to create awareness about the Rights Issue, using broad-based and multiple means of communication.

These included television, radio, print, digital and social media, first-of-its-kind AI-based chatbot, emails and SMS to reach out to the shareholders.


The Rights Entitlement (RE) was actively traded reflecting broad-based interest in the Rights Issue.

This is the first instance of RE’s being traded in demat form on the stock exchanges since SEBI introduced this platform and it was a resounding success.

A unique feature of RIL’s Rights Issue was that, despite its record-setting magnitude, it was completed entirely on a digital platform, defying the formidable constraints imposed by the COVID-induced lockdown. And this too was a new record in the history of Indian and global capital markets.

None of the stakeholders across 800 Indian cities and many financial centres abroad — regulators, bankers, financial institutions, retail investors and others — had to step out of their offices or homes, and yet everything related to the Rights Issue was conducted smoothly and with utmost efficiency.

This shows not only the power of the emerging digital age, but also the potential of India to be a pioneer and an innovator in this age.


You can also access and/or read the above narrated news-report on our : BLOG and/or WEBSITE.

In case, if you wish to VERIFY, the above narrated news-report, please CLICK here.


Follow DATELINE GUJARAT On :-

FacebookLinkedinTwitterYouTube, Blogspot, Telegram, Instagram 


You can also access and/or read the above narrated news-report on our : BLOG and/or WEBSITE.


SHARE THIS NEWS ON :-

Do NOT follow this link or you will be banned from the site!