Reliance Industries Rs 53,125 cr right issue to open May 20, close June 3

TIL Desk/Business/New Delhi/ Oil-to-telecom conglomerate Reliance Industries Ltd on Saturday said its mega Rs 53,125 crore rights issue will open for subscription of shareholders on May 20 and close on June 3.

Billionaire Mukesh Ambani’s firm had on April 30 announced fund raising of Rs 53,125 crore by way of a 1:15 rights issue — India’s biggest and the first such issue by the firm in nearly three decades.

Reliance had earlier fixed May 14 as the record date for determining shareholders’ eligible to apply for the issue.

In a regulatory filing, the company said the rights issue committee of the board of directors at its meet on May 15 approved issue opening on May 20 and closing date of June 3.

“Abridged letter of offer, application form of rights issue, and rights entitlement letter, to be sent to the eligible equity shareholders of the company,” it said.