InvestorQ : What has been the response to the Reliance Rights Issue, which closes for subscription on 03 June 2020?
diksha shah made post

What has been the response to the Reliance Rights Issue, which closes for subscription on 03 June 2020?

Answer
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Deepa Salunkhe answered.
3 months ago


It has been one of the most successful rights issues in recent times. Reliance Industries rights issue got fully subscribed 2 days ahead of the closure of the issue. As of the close of Monday 01 June, the rights issue had already been oversubscribed by 1.1 times. While the Ambani family holds close to 50% in Reliance Industries, it also has a large family of shareholders which includes nearly 26 lakh retail shareholders and over 1700 domestic and foreign instituti9onal investors. One reason for the success of the rights issue is that the rights price of Rs.1257 is at a steep discount of the current market price of Rs.1520. RIL has been one of the star performers in CY2020 with the stock regaining most of its losses post COVID-19 and scaling new highs.