Reliance Industries rights issue to bolster its re-positioning as a consumer, tech company
Reliance Industries Ltd (RIL) will open its ₹53,215 crore rights issue — India’s biggest yet — on May 22, aiming to bolster the re-positioning of the once energy- focussed giant as a consumer/technology company, with Jio and Retail Platforms.
Shareholders can pay 25 per cent on application, and balance in one or more calls. The rights issue is priced at ₹1,257 per share.
The “global pandemic is reshaping the way the world lives and works,” Reliance said in an analyst presentation. There will be visible acceleration in digital services and the heightened need for robust supply chain-led new commerce model.
As new strategic investors participate in growth engines, the rights issue will reward existing shareholders enabling them to participate in consumer/technology business value creation, according to the company.
