RIL partly-paid shares under rights issue to debut on bourses on Monday

Reliance Industries (RIL) partly-paid shares will make their stock market debut on Monday. These shares were issued in rights issue programme, which concluded on June 3 and garnered 1.6 times subscription.

About 442.6 million partly paid-up shares with face value of Rs 2.5 per share were issued in the rights issue at Rs 314.25 per share. In simple terms, these shares are worth a fourth of the fully-paid up shares of RIL that are traded on the bourses. On Friday, the fully-paid shares closed at Rs 1,589, up 3.3 per cent.

At the last closing price, the partly paid up shares will be worth Rs 397.2, a premium of 26 per cent to the rights issue price. Market players said the partly paid up shares will move lock in step with the fully paid shares but could trade a premium given their low denomination.