RIL: Rights Entitlement trade ends 41% higher than first trade
The de-materialised trading of Reliance Industries Ltd-Rights Entitlement (RIL-RE) on Friday ended with last trade happening at Rs 223, up 41 per cent over the first trade, according to stock exchange data.
RIL-REs were first traded on May 20 at a price of Rs 158.
In just seven trading sessions, RIL-REs created great value for investors. At Friday’s closing price, RIL shareholders collectively became richer by nearly Rs 9,425 crore thanks to the REs.
RIL-REs commanded a premium to their intrinsic value on each of the seven trading sessions.
At Friday’s close, buy orders for 4.8 lakh REs were pending on NSE, more than double of 2.4 lakh pending sell orders.
