Reliance Industries’ partly paid shares relisted on the stock exchanges today and started trading at Rs 1,570 per share, following investors paid the initial get in touch with quantity, due last month. The scrip now trades at a discount of just Rs 619 per share to the complete paid-up Reliance Industries stocks that trade at Rs 2,189 apiece. Including the partial payment at the time of subscription, investors have now paid half the quantity of the concern value of Rs 1,257, on the other hand the worth of scrip has crossed the concern value. Trading in the partly paid shares was halted last month at a value of Rs 982 apiece. Since then RIL stock has soared 14%.
The oil-to-telecom conglomerate had issued 42,26,26,894 equity shares of Rs. 2.50 face worth last year following the completion of its Rs 53,124 crore rights concern. RIL had opted for a exceptional payment structure for its rights concern, exactly where investors who had been allotted the shares paid Rs 314.25 at the time of subscription, followed by two additional payments later.
The initial of the other payments was due just before May 31, 2021. The aggregate quantity payable by these shareholders towards First Call was Rs 13,281.05 crore, of which RIL received Rs 13,150.70 crore representing about 99% of the due quantity. RIL, in a statement issued yesterday, stated that it has credited 41,77,93,830 – Rs 5/- paid-up equity shares to investors on getting the initial get in touch with quantity. The final get in touch with quantity is due in November this year.
Partly paid shares of Reliance Industries have been soaring larger given that listing last year in June. Since then the partly paid shares have skyrocketed 127%. The partly paid shares are tradable like any other safety. Investors who acquire the partly paid shares will have to spend the balance quantity as per the payment schedule and it will at some point get merged into completely paid shares post the payment of all the cash. Reliance Industries Ltd share value is up 10% year to date, sitting close to all-time highs.