The company will issue shares at a price of Rs 1,257 per fully paid-up equity share.
Reliance Industries (RIL) after market hours on Thursday (30 April 2020) announced that its board approved the issuance of equity shares of Rs 10 each of the company on rights basis to eligible equity shareholders of the company as on the record date (to be notified later), of an issue size of Rs 53,125 crore.
Shareholders can subscribe to one equity share for every 15 equity shares held as on the record date. The issue is priced at Rs 1,257, a discount of 14.32% to Thursday's closing price of Rs 1,467.05.
The promoter and promoter group of the company have confirmed they will subscribe to the full extent of their aggregate rights entitlement. In addition, they will also subscribe to all the unsubscribed shares in the issue.
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