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Reliance Industries Partly Paid Shares Relist At Rs 1,570; Shares Gain
After investors paid the first call money due last month, Reliance Industries' partially paid shares relisted on stock exchanges today and began trading at Rs 1,570 per share.
The share price of Reliance Industries (RIL) rose in early trading on June 10 after the company received Rs 13,150.7 crore as the first call on partially paid-up equity shares.
The stock is presently trading at a discount of just Rs 619 a share to the fully paid-up Reliance Industries shares, which is now trading at Rs 2,193.
Reliance Industries was trading at Rs 2,193 on the NSE at 10.45 hours, up Rs 18.05, or 0.83 percent.
The company set May 12, 2021 as the record date for deciding who is obliged to pay the money on the first call: holders of partially paid-up equity shares (eligible shareholders).
"The holders of the aforesaid partly paid-up equity shares, whose names appeared on the Register of Members as on May 12, 2021 (the Record Date), were required to pay the First Call amount of Rs 314.25 per equity share (comprising Rs 2.50 towards face value and Rs 311.75 towards securities premium) between Monday, May 17, 2021 and Monday, May 31, 2021 (both days inclusive)," company said.
The corporate action for credit of 41,77,93,830 - Rs 5 paid-up equity shares has been completed. It stated that these 41,77,93,830 Rs 5 paid-up equity shares have been listed and would be available for trading on stock markets as of June 10, 2021.
Reliance Industries was trading at Rs 2,187.35 on the BSE at 0920 hours, up Rs 12.60, or 0.58 percent.
At a price of Rs 982 a share, trading in the partially paid shares was halted last month. RIL's stock has increased by 14% since then. RIL chose a one-of-a-kind payment structure for its rights issue, in which investors were charged Rs 314.25 at the time of subscription, followed by two more payments.
