RIL’s Rs 53,124 crore rights issue oversubscribed 1.59 times

NEW DELHI: Reliance Industries’ Rs 53,124 crore rights issue, which closed on Wednesday, received a robust response from shareholders as the issue got subscribed 1.59 times.

The allotment of equity shares will happen on June 10. The rights shares are expected to be listed on the exchanges on June 12 under separate ISIN. The public portion of the rights got subscribed 1.22 times.

Commenting on the success of the rights issue, Mukesh Ambani, Chairman and Managing Director, Reliance Industries, said, “The success of RIL’s rights Issue, seen in the context of the prolonged nationwide lockdown necessitated by the Covid-19 pandemic, is also a vote of confidence, by both domestic investors, foreign investors and small retail shareholders, in the intrinsic strength of the Indian economy.”