Reliance Industries (RIL) on Monday announced that its board would consider a proposal to issue equity shares to existing shareholders on a rights basis during its board meeting on April 30 (Thursday). That apart, the company will also announce its results for the quarter ended March 2020 (Q4FY20) on the same day.
According to analysts, the company’s decision to consider rights issue is unexpected; however, considering that the equity markets may not do well in the near-term due to Covid-19 crisis, the company may have resorted to the rights issue to raise money.
