Reliance launches ₹53,125 crore rights issue; to give one share for every 15 shares held

The board of Reliance Industries Ltd on Thursday approved a rights issue of ₹53,125 crore in the ratio of 1:15 priced at ₹1,257 per share.

Promoters will subscribe to their full entitlement of the rights issue and also to all the unsubscribed portion, the company said in a statement.

The rights issue will enable participation of all shareholders in growth business of Reliance, it said.