InvestorQ : What are the terms and conditions of the rights issue of Reliance Industries? I am a shareholder of Reliance Industries?
Dia Deshpande made post

What are the terms and conditions of the rights issue of Reliance Industries? I am a shareholder of Reliance Industries?

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Ria Jain answered.
8 months ago
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RIL has fixed May 14 (Thursday) as the record date for its mega rights issue of Rs.53,125 crore. The rights issue had been earlier announced on April 30 as part of the group’s larger plan to become zero-net debt by March 2021. The rights issue will be in the ratio of 1:15 and the rights will be priced at Rs.1257, a fairly steep discount to the current market price. Now, May 14, 2020 has been fixed as the Record Date for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the rights issue. Those willing to subscribe to the rights issue will have to pay 25% on application and the rest in tranches. The Ambani family with a holding of 50% will also pump in Rs.26,600 crore into the rights issue. The Ambani family has also agreed to absorb any additional rights that is not taken up by other shareholders.

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