Reliance Industries in a filing to the BSE on Saturday said the Rights Issue Committee comprising of the company's board of Directors has fixed May 14, 2020 (Thursday) as the record date for the company's rights issue.
Record date is the date which is taken into account for determining eligibility of a shareholder in exercising rights in the rights issue.
As per the provisions of Regulation 77A of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018 read with relevant circulars in this regard issued by SEBI, RIL has received International Securities Identification Number (ISIN): INE002A20018 in order to credit rights entitlements.
The company has obtained in-principle approvals from both the leading exchanges BSE and the NSE for the rights issue of 42,26,26,894 equity shares.
The opening and closing date of the issue shall be notified separately.
As per analysts, the rights issue is expected to help the company in paring its debt as well as form a buffer in dealing with the pandemic.