As against the last closing price of ril shares of rs 1 458 90 on may 15 the rights issue price of rs 1 257 apiece is decently attractive with a discount of 16 percent. In cases of rights entitlement renunciation in the upcoming issue of reliance industries limited ril a buyer should pay the seller a theoretical fair value range between rs 202 to rs 245 for a. Mukesh ambani owned reliance industries on saturday announced that its rights issue of rs 53 125 crore the biggest ever in india will open on may 20 and close on june 3.
Typically cash strapped companies use rights issues to raise. Reliance industries share price has since risen to 1 458 90 friday s closing price but rights issue price remains the same. The rights issue is reliance s first of its kind in almost 30 years billionaire mukesh ambani led reliance industries on saturday fixed may 14 as the record date for its rs 53 125 crore rights issue.
Reliance industries ril india s most valued company plans to raise rs 53 125 crore through a rights offer at rs 1 257 a share a 14 discount to the stock s thursday close on the. As per the speculations the brokerage houses are very much positive for reliance rights issue. The rights issue to start from 20 may 2020 and close on 03 june 2020.
Reliance industries is coming up with a rights issue of 53125 crores. The stock hit an intraday high of rs 710 65 and low of rs 671 55. Reliance industries rights issue shares opened at rs 690 per share in today s session on nse against the base price of rs 646.
Ril said it will issue shares at a price. India s most valuable company reliance industries ltd on thursday approved a rs 53 125 crore fundraising plan through a rights issue of equity shares. On the basis of intrinsic value of rs 397 2 the reliance industries friday s closing price of rs 1 588 80 divided by 4 as investors also paid 1 4th of rights issue price rs 314 25 rs 1 257 4 on.
