 "reliance industries, RIL")
Uncertainty is continuing over the ‘call option’ for Reliance Industries’ (RIL’s) Rs 53,125-crore rights issue. While the transaction is being talked up as India’s largest equity fundraise, the initial fundraising will be only Rs 13,250 crore, with no definite timeline with regards to when shareholders will be asked to cough up the balance Rs 40,000 crore.
Unlike any typical rights issue, the 422.6 million fresh shares issued by RIL will be partly-paid, with Rs 1,257 for each share coming in two or more tranches.
RIL shareholders, as of May 14, will have to pay only Rs 314.25 per share initially,
