Reliance Industries Limited allots 42,24,40,258 rights equity shares, 1.86 lakh rights equity shares in abeyance

FPJ Web DeskUpdated: Thursday, June 11, 2020, 10:11 AM IST
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Reliance Industries Limited (RIL) has allotted 42,24,40,258 rights equity shares to the eligible applicants against the issue of 42,26,26,894 equity shares. The remaining allotment of 1,86,636 rights equity shares has been kept in abeyance by the company.

The company informed the exchange that this decision was based on an order passed by the Special Court constituted under the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992.

The rights equity shares were issued as partly paid-up and an amount of Rs 314.25 per rights equity shares was payable on application (of which Rs 2.50 towards face value of rights equity share and Rs 311.75 towards premium amount of rights equity share).

On Thursday, the shares of Reliance Industries traded 0.89 per cent down at 09.24 am. The stock opened at Rs 1, 569 and touched an intraday high and low of Rs 1, 569 and Rs 1, 556.05, respectively.

Oil-to-telecom conglomerate RIL’s Rs 53,125-crore rights issue, which opened for subscription of shareholders on May 20, was oversubscribed nearly 1.3 times.

The rights issue, along with the multiple stake sales in its Jio Platforms business, was a part of the company’s strategy to become a debt-free company.

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