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RIL to list largest ever rights shares on the stock exchange on Monday

Mukesh Ambani, Chairman, Reliance Industries Limited

RIL’s Rs 53,124  crore rights issue will be listed on the stock market on Monday. It will be India’s largest-ever rights issue.

Mukesh Ambani has got the 5.52 lakh shares of his firm Reliance industries (RIL) in the Rs. 53,124 crore rights issue according to the company’s regulatory filing.

Ambani now holds 0.12 per cent or 80.52 lakh shares of RIL, taking it up from 75 lakh shares before the rights issue.

In all the promoter group got 22.50 crore shares, taking their shareholding to 50.29 per cent. The Firm announced fundraising in late April by way of 1:15 ratio. Which means one share offered for every 15 shares held at Rs 1, 257.

After a series of investments from giants like Facebook, Saudi Aramco Reliance has successfully reduced its debt. In August last year, Ambani set a target of March 2021, to make the company debt-free. The target is likely to be achieved by December this year.

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