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Reliance Industries Rights Issue Shares To List And Trade In ‘A' Securities Group
As per the BSE, the rights shares issued in the recently concluded rights issue of Reliance Industries "Effective from Monday, June 15, 2020, the new securities of Reliance Industries NSE 3.32 % Ltd (Scrip Code: 890147) shall be listed and permitted to trade on the Exchange in the list of 'A' Group of Securities".
On June 11, the company was done with the allotment of rights shares to RIL shareholders who subscribed to the offer. The company has managed to the conclude the rights issue offer in just 42 days solely via the online platform despite the Covid 19 led lockdown.
The country's largest and even on a global level RIL rights issue of Rs. 53124 crore was the largest ever rights issue by a non-financial entity in past 10 years. The issue received an overwhelming response with oversubscription of 1.6 times.
Also, the rights issue saw massive FPI interest and their ownership in the firm increased in number to 1395 as against 1318 as on March 31, 2020, with stake now increased to 24.15% as against 23.48% as on March 31, 2020.
The partly paid-up shares of Rs. 2.5 face value will be separately listed on stock exchanges on Monday under the new ISIN code IN9002A01024.
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