The Board of Reliance Industries at its meeting held on 30 April 2020 has approved rights issue of an issue size of Rs 53,125 crore. The board approved the following terms of the issue -
Rights Issue Price: Rs. 1,257/- per fully paid-up equity share (including a premium of Rs. 1,247/- per equity share).
Terms of payment of Issue Price: 25% on application and balance in one or more calls as may be decided by the Board / Committee of the Board from time to time.
Rights Entitlement Ratio: 1 equity share for every 15 equity shares held by eligible shareholders as on the record date.
The promoter and promoter group of the Company have confirmed they will subscribe to the full extent of their aggregate rights entitlement. In addition, they will also subscribe to all the unsubscribed shares in the Issue.