Mukesh Ambani, chairman, managing director of Reliance Industries Limited has received 5,52,000 lakh shares of the company. This was after the recently completed rights issue of Rs 53,124 crore, as per the company’s filing on Thursday.
Mukesh Ambani currently holds 8.5 million shares or a 0.12 percent stake in the RIL. Moreover, before the rights issue, he held 7.5 million shares in the multinational. Further, his wife Nita along with children Isha, Akash, and Anant each got 0.55 million shares after their subscription to the rights proposal.
In total, the group has now acquired 225 million shares in the rights issue. Moreover, this has taken their shareholding percentage to 50.29 compared to 50.07 percent earlier. The public shareholding is declined from 49.93 to 49.71 percent, as stated in the filing.
Earlier, on April 30, Reliance Industries declared raising funds through a 1:5 rights issue, the first biggest issue by the firm in a long time. The company offered one share for every 15 shares. The shares however were oversubscribed by the investors by 1.6 times. Therefore, raising the funds as much as Rs. 84,000 crore.
The company has stated that the shareholders paid only 25 percent for subscribing to the issue. They have to pay the balance in two installments in May and November the following year.
Life Insurance Corporation (LIC) has subscribed to 24.7 million shares in the company. Thus, taking its shareholding to 37.18 crore or 6 percent of the equity. Briefly, public shareholders obtained 197.3 million shares.