RIL’s first rights issue in 3 decades likely to open on May 22

New Delhi: The rights issue of Reliance Industries Limited (RIL) is expected to open on May 22. It will be priced at Rs 1,257 per share with a share ratio at 1:15. The issue amount is Rs 53,125 crore.

As per the payment terms, 25 per cent of the amount will be on application and the balance on more calls.

Market sources said there is a strong repositioning of RIL as consumer/technology company with Jio and retail platforms.

As new strategic investors participate in growth engines, the rights issue will reward existing shareholders by enabling them to participate in consumer/technology business value creation.