Reliance Industries Ltd allots 42,24,40,258 rights shares

Pursuant to the Board approval, Reliance Industries Ltd had, vide Letter of Offer dated May 15, 2020, issued 42,26,26,894 equity shares of face value of Rs. 10/- each ('Rights Equity Shares') to the Eligible Equity Shareholders at an issue price of Rs. 1,257 per Rights Equity Share (including premium of Rs. 1,247 per Rights Equity Share). The Rights Equity Shares were issued as partly paid-up and an amount of Rs. 314.25 per Rights Equity Share was payable on application (of which Rs. 2.50 towards face value of Rights Equity Share and Rs. 311.75 towards premium amount of Rights Equity Share).

The Basis of Allotment of equity shares has been finalised in consultation with the Lead Managers, the Registrar to the Rights issue and BSE Limited, the designated stock exchange for the Rights issue. The Company has, today, on June 11, 2020, allotted 42,24,40,258 Rights Equity Shares to the eligible applicants against the issue of 42,26,26,894 Equity Shares. Issue of 1,86,636 Rights Equity Shares has been kept in abeyance by the Company, pursuant to an order passed by the Hon'ble Special Court constituted under the Special Court (Trial of Offences Relating to Transactions in Securities) Act, 1992.

Shares of RELIANCE INDUSTRIES LTD. was last trading in BSE at Rs.1572 as compared to the previous close of Rs. 1537.1. The total number of shares traded during the day was 421611 in over 18078 trades.

The stock hit an intraday high of Rs. 1579 and intraday low of 1540.6. The net turnover during the day was Rs. 657173054.

Source : Equity Bulls

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