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Mukesh Ambani gets 5,52,000 shares in RIL rights issue

Promoter group got 22.5 crore shares in right issue and public shareholders got 19.74 crore shares; this increases promoter group shareholding to 50.29 per cent from 50.07 per cent earlier

twitter-logo BusinessToday.In   New Delhi     Last Updated: June 11, 2020  | 16:16 IST
Mukesh Ambani gets 5,52,000 shares in RIL rights issue
RIL Chairman Mukesh Ambani

Reliance Industries Limited (RIL) Chairman Mukesh Ambani received 5,52,000 shares of his company in the recently concluded rights issue, the company said in a regulatory filing on Thursday. His total shareholding in the conglomerate now stands at 80,52,020 lakh shares. His wife Nita Ambani, daughter Isha Ambani, sons Akash Ambani and Anant Ambani, all got 5,52,021 shares each. Kokila Dhirubhai Ambani also got 10,79,174 shares in the rights issue.

Also read: RIL's Rs 53,124 crore rights issue subscribed 1.59 times; vote of confidence from investors, says Ambani

The promoter group got 22.5 crore shares in the right issue and public shareholders got 19.74 crore shares. This has increased the promoter group shareholding to 50.29 per cent from 50.07 per cent earlier. This also reduces public shareholding in RIL to 49.71 per cent from 49.93 per cent earlier. The company achieved successful closure of India's largest-ever rights issue worth Rs 53,124.20 crore, which was subscribed 1.59 times, cumulating to an overall commitment of over Rs 84,000 crore. RIL intends to use three-fourth of proceeds from the rights issue for repaying some of its borrowings, as per the offer document filed with exchanges.

"Pursuant to the Board approval, the company had, vide letter of offer dated May 15, 2020, issued 42,26,26,894 equity shares of the face value of Rs 10/- each ('Rights Equity Shares') to the eligible equity shareholders at an issue price of Rs 1,257 per rights equity share (including a premium of Rs 1,247 per rights equity share)," the company statement said.

The rights equity shares were issued as partly paid-up and an amount of Rs 314.25 per rights equity share was payable on application (of which Rs 2.50 towards face value of rights equity share and Rs 311.75 towards the premium amount of rights equity share), RIL said. The company today allotted 42,24,40,258 rights equity shares to the eligible applicants against the issue of 42,26,26,894 equity shares, it said.

The RIL share price closed at Rs 1,538.80, down 2.12 per cent, on NSE on Thursday.

Also Read: RIL to use 75% of Rs 53,000 crore rights issue to repay debt

Also Read: Reliance Industries' Rs 53,125 crore rights issue: Which investment banker is doing what?

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