RIL’s rights issue received huge response from investors, raised over Rs. 84,000 crore

On June 3, RIL received tremendous response from the investors as its rights issue of Rs. 53,124 crore was subscribed over 1.6 times. Moreover, the last day of a subscription raised over Rs. 84,000 crore.

“The Rights Issue saw a huge investor interest, including from lakhs of small investors and thousands of institutional investors, both Indian and foreign. The public portion of the Rights issue was subscribed 1.22 times,” the company stated in a press release.

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Further, the company mentioned that the allotment of shares will transpire on or about June 10. Also, under separate ISIN, the rights shares are anticipated to be listed on the BSE and NSE on or about June 12.

The firm’s Rights Entitlement actively traded indicating a broader interest. Moreover, it was the first occurrence of RE’s being traded in Dematerialized form in the exchanges since SEBI introduced this platform.

“I express my sincere thanks to our dear and esteemed shareholders for participating in this Rights Issue and making it a new and proud landmark in the history of India’s capital market,” said Mukesh Ambani, Chairman and Managing Director of RIL, in the release.

“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. I have no doubt that the Indian economy will bounce back to follow a high-growth trajectory in the time to come, and make India a leading Digital Nation in the World,” he added.

The issue opened for subscription on May 20. Additionally, the ratio of share stood at 1.15. In brief, for every 15 shares that the shareholder held, one right share was allotted.

Earlier, the company launched a campaign to bring attention to rights issues. Further, the company used multiple means to connect with its shareholders including social media and AI-based chatbots.