RIL partly paid-up shares make strong debut, surge 10% to Rs 710.65 on NSE

Reliance Industries’ (RIL) partly-paid shares issued under rights issue made a strong stock market debut on Monday, surging 10 per cent to Rs 710.65 on the National Stock Exchange (NSE), in the early morning trade.

At 09:27 am, the shares were trading 7 per cent higher at Rs 693 on the NSE. On BSE, it was trading 7 per cent at Rs 692, after hitting a high of Rs 710.65 in the intra-day trade so far. A combined 1.7 million shares have changed hands on the NSE and BSE till the time of writing of this report.

About 442.6 million partly paid-up shares with face value of Rs 2.5 per share were issued under the rights issue at Rs 314.25 per share. The shares were issued under the Rs 53,124 crore rights issue, which concluded on June 3 and garnered 1.6 times subscription.