InvestorQ : How has been the Reliance Rights listing on 15 June 2020?
Chandralekha Desai made post

How has been the Reliance Rights listing on 15 June 2020?

Answer
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Mitali Bhutta answered.
3 months ago


The partly paid-up rights – PPR equity shares of Reliance Industries started trading at Rs.684.90 on the NSE against previous close of Rs.646.05. The cost of Rs.646.05 is arrived at by adding the issue price of the share at Rs.314.25 and the discount given to the rights investors of Rs.341.80 being the difference between the closing market price on 12 June and the rights issue price of Rs.1257. It may be recollected that RIL had only collected Rs.314.25 or 25% of the rights price at the time of application. The second tranche of Rs.314.25 is payable in May 2021 and the balance of Rs.628.50 per share is payable in November 2021. The partly paid shares have already clocked heavy volumes8.70 lakh shares valued at Rs.267 crore in the first two hours of trade. The stock touched a high of Rs.711 and low of Rs.671 during the day. The rights issue had received an overwhelming response from investors oversubscribed 1.59 times, which is quite rare for rights issues.