Reliance Industries rights issue to bolster its re-positioning as a consumer, tech company

Reliance Industries Ltd (RIL) will open its ₹53,215 crore rights issue — India’s biggest yet — on May 22, aiming to bolster the re-positioning of the once energy- focussed giant as a consumer/technology company, with Jio and Retail Platforms.

Shareholders can pay 25 per cent on application, and balance in one or more calls. The rights issue is priced at ₹1,257 per share.

The “global pandemic is reshaping the way the world lives and works,” Reliance said in an analyst presentation. There will be visible acceleration in digital services and the heightened need for robust supply chain-led new commerce model.