Investors who subscribe to the rights issue have to pay 25% of the total subscription amount and the balance will have to be paid by shareholders in two installments in May 2021 and November 2021 respectively.
Mint reported on 28 May that Reliance's largest public shareholder, the Life Insurance Corporation of India (LIC), is likely to subscribe to shares worth up to ₹3,000 crore, in the rights issue.
The promoter and promoter group of the company have confirmed they will subscribe to the full extent of their aggregate rights entitlement. In addition, they said that they will also subscribe to all the unsubscribed shares in the issue.
Investment banks Citigroup, Morgan Stanley, Bank of America and Axis Capital, among others are advising on the rights issue.
Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.
Never miss a story! Stay connected and informed with Mint.
our App Now!!