Reliance Industries Ltd’s Rs 53,125-crore shares rights issue, the first of its kind in almost 30 years, will open for subscription of shareholders on Wednesday and close on June 3.
The Mukesh Ambani-led company had set a price of Rs 1,257 per share for the rights issue with a ratio of 1:15 on April 30. This means one RIL share will be offered for every 15 shares held at Rs 1,257 or a 14% discount to the closing price on April 30.
The rights issue is a part of the company’s strategy of deleveraging its balance sheet to become a zero net debt.
