RIL partly paid shares to delist

RIL partly paid shares to delist

Reliance Industries (RIL) partly paid shares will delist from stock exchanges today with second and final call of Rs 628.50 per share due later this month. RIL has fixed 10 November as the record day for the final call payment.
With this, Mukesh Ambani’s firm will complete the largest rights issue — Rs 53,124 crore — seen by domestic markets to date. RIL partly paid-up shares are trading at Rs 1836.70 per share today, while the fully paid-up shares of the oil-to-telecom conglomerate of Mukesh Ambani are trading at Rs 2469.50 per share.
With the delisting date and the record day set for the final call payment, shareholders of the 42,26,26,894 partly paid-up equity shares must sell their shares latest by 8 November, or pay Rs 628.50 per share during 15-29 November 2021. Failing to make the final call payment, the part value paid so far will be forfeited.

Fresh RIL partly paid shares were allotted to shareholders after making a 25% payment including the first call of Rs 314.25 per share. Shareholders who failed to make the first call had to pay an interest of 8% per annum for the delay in payment till the actual payment date. Those who made the first call payment, are now liable to make the second and final call payment.
Post the delisting of the partly paid shares, eligible shareholders will get ordinary shares credited to their accounts. After conversion to ordinary shares, Reliance Industries Ltd (RIL) may witness an inflow worth $395 million from passive buying.

Currently, institutional investors such as State Bank of India, Aditya Birla Sun Life Asset Management Company, Mirae Asset Global Investment, Vanguard Group, ICICI Prudential Life, HDFC AMC, Morgan Stanley, Edelweiss AMC, among others hold partly paid shares of Reliance Industries.

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