Reliance Industries Right Issue Open up today on May 20, 2020. The company has proposed to raise Rs. 53,125 Cr through this issue. The issue will close on Jun 3, 2020.
Detail of Reliance Industries Limited Right Issue
|Reliance Industries Right Issue Detail|
|Issue Open||May 20, 2020- Jun 3, 2020|
|Issue Type||Right Issue|
|Issue Ratio||1 share for every 15 shares held|
|Record Date||May 14, 2020|
|Issue Size||Rs. 53,125 Cr|
|Issue Price||Rs. 1257 per Share|
||25% or Rs. 314.25 upfront
25% or Rs. 314.25 on May 2021
50% or Rs. 628.50 on Nov 2021
Promoter will subscribe to almost half of the right issue.
Investment Bankers to issue
Morgan Stanley, Kotak Mahindra Capital, JM Financial, Axis capital, ICICI Securities, Citigroup.
Objects of Right issue
To reduce the Debt of the company.
Reliance Right Entitlement Price – Rs. 212 as on May 20, 2020.
Review and Recommendation
Subscribe to the Right Issue as company is focusing on future driven digital platform and R. Jio which is expected to go listed in next few years.