Edited By Dil Prakash | | Updated: 29 May 2020, 10:33:00 AM IST
- Right to buy rights entitlement (RE) of Reliance Industries rights issue today
- A total of 3.4 crore shares were traded in the stock market under Reliance RE till the close of business yesterday.
- So far, 11.1 crore shares have been traded in this category, total value of Rs 2,150 crores
- Its purchase was started from May 20, the issue is closing on June 3
Today is the last day of the sale of rights entitlement (RE) of the Reliance Industries rights issue. Until the close of trading yesterday, a total of 3.4 crore shares were traded in the stock market under Reliance RE, which is the largest trading day in Reliance RE. Its procurement began on May 20.
The volume-weighted average price of Reliance's rights entitlement in the stock market, VWAP has touched new heights. Yesterday's VWAP was Rs 221.51. It was recorded 23.2% above the previous day's trading price. This was the biggest jump in the price of rights entitlement of Reliance so far. So far, 11.1 million shares have been traded in this category. The value of which is estimated at Rs 2,150 crore.
The issue is closing on June 3
Reliance's rights issue closes on June 3. While the purchase in RE will be done till today, 29 May. These will be final settled after the closure of RE, after which the investor has to pay 25 percent of the first installment of Rs 1257, Rs 314.25, on June 3. Of the remaining 75 percent, 25% has to be paid in May next year and the remaining 50 percent in November.
RIL Rights Issue: Reliance's rights issue special, many things are happening for the first time
After the allotment and after crediting the shares to the shareholder's account by June 11, trading will commence from June 12 in a partially paid rights issue from June 12. Reliance is offering 15 shares under a share rights issue.