Categories: Business

Mukesh Ambani gets 5.52 lakh shares in RIL's rights issue, promoter group's share increases to 50.29 percent

Photo: GOOGLE

RIL promoter group allotted 53.2 per cent shares in rights issue

new Delhi. Mukesh Ambani got 5.52 lakh shares of the company in the recently closed Rs 53,124 crore rights issue of Reliance Industries. The company gave this information in a notice sent to the stock markets. Ambani now has 80.52 lakh shares of Reliance Industries. He had 7.5 million shares before the rights issue. Now they have 0.12 percent shares in the company.

Ambani's wife Neeta and children Isha, Akash and Anant have also received 5.52-5.52 lakh shares in the rights issue. They also now have 0.12–0.12 percent shares of the company. In total, the promoter group has received 22.50 million shares in the rights issue. With this, the promoter group's stake in the company has gone up to 50.29 percent, from 50.07 percent earlier.

With this, the public shareholding in the company has come down from 49.93 percent to 49.71 percent. Public sector Life Insurance Corporation of India (LIC) has acquired 2.47 crore shares in the rights issue. With this, LIC holds 37.18 crore shares or six per cent stake in Reliance Industries. Overall, public shareholders acquired 19.74 crore shares in the rights issue.

Ambani's company announced a rights issue worth Rs 53,124 crore on 30 April. It was the country's largest rights issue. Under this, one share was offered at a price of Rs 1,257 for every 15 shares. This was 14 percent lower than the closing price of the company's stock on 30 April. The issue was subscribed 1.6 times. A total of Rs 84,000 crore bids were received for the shares.

This post was published on June 11, 2020 2:06 pm

Content Team

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