THE WORLD’S LARGEST
RIGHTS ISSUE BY A NON-FINANCIAL INSTITUTION IN THE LAST TEN YEARS
SHRI MUKESH AMBANI THANKS SHAREHOLDERS AND
REITERATES HIS COMMITMENT TO BUILD “A NEW RELIANCE FOR A NEW INDIA ”
Reliance Industries
Limited today announced that it has achieved successful closure of India ’s largest
ever Rights Issue of Rs. 53,124.20 crore. It was subscribed approximately 1.59 times,
cumulating to an overall commitment of over Rs.84,000 crore. The Rights Issue
saw a huge investor interest, including from lakhs of small investors and
thousands of institutional investors, both Indian and foreign. The
public portion of the Rights issue was subscribed 1.22 times.
The allotment of equity
shares will happen on or about 10th June 2020. The rights
shares are expected to be listed on the BSE and NSE on or around 12th June
2020 under separate ISIN.
The Company had launched a
highly innovative campaign to create awareness about the Rights Issue, using
broad-based and multiple means of communication. These included television,
radio, print, digital and social media, first-of-its-kind AI-based chatbot, emails
and SMS to reach out to the shareholders.
The Rights Entitlement (RE)
was actively traded reflecting broad-based interest in the Rights Issue. This
is the first instance of RE’s being traded in demat form on the stock exchanges
since SEBI introduced this platform and it was a resounding success.
A unique feature of RIL’s
Rights Issue was that, despite its record-setting magnitude, it was completed
entirely on a digital platform, defying the formidable constraints imposed by
the COVID-induced lockdown. And this too was a new record in the history of
Indian and global capital markets. None of the stakeholders across 800 Indian
cities and many financial centres abroad — regulators, bankers, financial
institutions, retail investors and others — had to step out of their offices or
homes, and yet everything related to the Rights Issue was conducted smoothly
and with utmost efficiency. This shows not only the power of the emerging
digital age, but also the potential of India to be a pioneer and an
innovator in this age.
Commenting on the success
of the Rights Issue, Shri Mukesh Ambani, Chairman and Managing Director of
Reliance Industries Limited, said, “I express my sincere thanks to our dear and
esteemed shareholders for participating in this Rights Issue and making it a
new and proud landmark in the history of India ’s capital market.
Since the time of Dhirubhai
Ambani, the Founder of Reliance Industries Limited, our shareholders have
always been our biggest source of strength. Our decades-old relationship based
on trust has consistently spurred us to achieve more. We are delighted and
humbled by their extraordinary show of confidence in the future of Reliance.
.
Mumbai, 03rd June 2020