Share Market: Reliance Industries partly paid shares relisted in National Stock Exchange

Some of Reliance Industries (RIL)’s settled shares were traded on the National Stock Exchange (NSE) on Thursday for Rs.1,572 per share. The stock price on the day after listing, rose by more than 3%.

At 2:50 pm on the National Stock Exchange (NSE), the share price rose to 0.98% and traded at Rs.1,561.65.

Reliance Industries share price rose 0.77% to 2,191.70.

RIL stated in its exchange documents that it received $ 13,150.7 billion in financing the first round of partially paid shares.

The company has set a registration date of May 5, to determine who (qualified shareholders) will hold partially paid up shares.

On June 3, the Oil and Gas Telecom group received an overwhelming response from existing shareholders and completed the issue of Rs.53,124,000.

42,26,26,894 shares of subdivision were registered 1.59 times and received claims worth 84,000 thousand rupees. After receiving the full payments, the partly paid shares will be converted into fully paid shares in November this year.

The shares were listed again on the stock exchange on Thursday.

The issue price is Rs.1,257 per share, and investors paid the first installment of Rs.314.25 per share on the last day of the shareholder allocation, June 3.

The second and final call of Rs.628.50 per rights equity share is to be payable from November 15, 2021 to November 29, 2021.

Last year, Reliance Industries announced the most important ever offering of Rs.53,125 crore by issuing a complete of 42,26,26,894 equity shares at Rs.1,257 apiece. Shareholders were required to pay only Rs.314.25 per share and therefore the balance amount of Rs.942.75 per share was to be collected later.

On receiving full payments, the partly-paid shares of RIL would get converted into fully-paid shares in November this year.

The first call amount of Rs.314.25 per share was paid by the holder of these partly paid-up shares between May 17 and will 31 period. Against the number of Rs.13,281.05 crore, the corporate till May 31 received Rs.13,150.70 crore, representing around 99 per cent of the number due on the primary call.

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