Saturday, May 23, 2020

Reliance Rights Issue - Dates, How to Apply, Price Band, Allotment Details

Reliance Industries is coming up with a Rights issue of 53125 crores. The Rights Issue to start from 20 May 2020 and close on 03 June 2020. As per the speculations the brokerage houses are very much positive for Reliance Rights Issue. As COVI-19, market conditions are not stable even the US-China Trade War might be one of the reasons for the roller-coaster ride in the market. Still we are very much positive for the RIL as it will hit the highs in the coming months.

Reliance is getting frequent investments in RIL Jio - Facebook (₹43574 cr.), Silver Lake (₹5656 cr.) and Vista (₹11367 cr.) planning to invest in Reliance group as well with Fuel retailing JV with BP (₹7000 cr.) and stake buy plans of Saudi Aramco is also in the plan for coming months/year. As per the current scenario and by 2021 Reliance will be a debt-free company.


Reliance Rights Issue Dates & Price Band:

 Issue Open:  20 May 2020
 Issue Close:  03 June 2020
 Issue Size:  Approx ₹53125 Crore (Approx)
 Face Value:  ₹10 Per Equity Share
 Price Band:  ₹1257 Per Share
 Listing on:  BSE & NSE

Reliance Rights Issue Allotment & Listing:

 Issue Allotment Date:  10 June 2020
 A credit of Shares:  11 June 2020
 Listing Date:  12 June 2020

Reliance Rights Issue Allotment done on 10-Jun and listing will be on 12-Jun. It will be a separate listing on indices Reliance and Reliance PP. Both the ISIN number will be tradable from 12-June.

Reliance Rights Issue How to Apply & Eligibility:

The current shareholders will be eligible for the Reliance Rights Issue. The inventors can apply through their Demat account holding. The last day to have the shares in your Demat account is 29 May 2020. As the current market price of Reliance Industries is in range of ₹1400-1500 with and it is looking very attractive at ₹1257. For investors its a rich opportunity to get the stock at a lower level against the current price. We can expect a GMP around 200-210 at the listing.