RIL’s rights issue gets robust response from investors, subscribed 1.59 times; shares likely to list next week

Reliance Industries completed India’s biggest ever rights issue of Rs 53,124 crore on Wednesday, and received a rave response from the eligible shareholders as the issue got subscribed 1.59 times. The rights issue witnessed huge interest from small and institutional investors alike. The allotment of the equity shares will take place on or about June 10, 2020, and the listing of rights shares on BSE and NSE is expected to take place on June 12 under separate ISIN, according to the company’s press release. The public portion of the rights issue was subscribed 1.22 times. RIL’s first rights issue in three decades opened for the subscription for shareholders on May 20 and closed on May 29.