RIL FCCU shutdown at Jamnagar refinery to impact product shipments

The Fluidized Catalytic Cracker Unit (FCCU) at Reliance Industries (RIL)'s SEZ refinery at Jamnagar had to be taken for an emergency shutdown on 6 June 2021.

"Consequently, some product shipments might get delayed and the company working to minimize the impact on our customers," RIL said. The FCCU unit is being repaired on top priority and is expected to be restarted expeditiously, it added.

All other units at the Jamnagar Refining complex are operating normally, RIL said in a regulatory filing made after trading hours yesterday.

Separately, RIL offered an update on receipt of amounts due on first call on Rs 2.50 paid-up equity shares of the company. The 42.26 crore partly paid-up shares of the company were allotted on rights basis.

The conglomerate said that the holders of the aforesaid partly paid-up equity shares, whose names appeared on the register of members as on 12 May 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 17 May 2021 and 31 May 2021 (both days inclusive).

The aggregate amount payable by these shareholders towards first call was Rs 13,281.05 crore.

The company has, till 31 May 2021, received Rs 13,150.70 crore representing around 99% of the amount due on first call.

The company has completed the corporate action for credit of 41.77 crore - Rs 5 paid-up equity shares. The aforementioned equity shares have been listed and would be available for trading on the stock exchanges with effect from 10 June 2021.

RIL is the largest private sector corporation in India. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and digital services.

On a consolidated basis, RIL reported 108.36% surge in net profit to Rs 13,227 crore on 9.59% increase in net sales to Rs 149,575 crore in Q4 March 2021 over Q4 March 2020.

The scrip rose 0.66% to currently trade at Rs 2189 on the BSE.

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