On Wednesday, The rights issue of Mukesh Ambani-led Reliance Industries got 159 percent subscription on the last day. The company wants to raise Rs 53,124 crore through this, it is the largest rights issue in the country. It is known that this is the world's largest rights issue brought by a non-financial company in the last decade.
According to a statement issued by the company regarding this matter, the company has received 1.22 times subscription in its public category. In this issue, the company offered 42.26 crore shares to its shareholders. The estimated value of the total bids received by the company's shares till the end of the issue on June 3 is about Rs 84 thousand crore. The board of directors of the company will meet on June 10 to approve the allocation of rights issue shares. These rights issue shares are expected to be listed separately on BSE and NSE on 12 June 2020.
In his statement, Mukesh Ambani, Chairman and Managing Director of Reliance Industries Limited said, "I would like my dear and respected shareholders to participate in this rights issue and to establish new models in India's capital market history and make it a symbol of pride I sincerely thank you for that. He said that the company's shareholders have been the biggest source of its power since the time of the company's founder Dhirubhai. He said that the success of the RIL rights issue, despite a prolonged nationwide lockdown in the COVID-19 epidemic, has not been enough for domestic investors, Demonstrates confidence in the internal strength in the Indian economy by foreign investors and small retail shareholders. Mukesh Ambani said that I do not see any doubt that the Indian economy will move towards the goal of high growth in the coming times in the world, and will return once again.
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