The partly paid-up equity shares of Reliance Industries gained 2.8 percent on June 11, the second day after relisting. The shares were trading at Rs 1,583.55 on the BSE, rising 1.84 percent with 75,000 equity shares at 1144 hours. It touched an intraday high of Rs 1,598.30.
At the same time, Reliance Industries' fully paid-up shares were trading 1.2 percent higher at Rs 2,209.
The partly paid-up shares relisted on June 10 at Rs 1,570, registering a 60 percent gains over the delisted price on May 10. These shares were delisted at Rs 982.05.
The rights issue investors made 127.9 percent gains at the relisted price on June 10 compared to the listing price of Rs 689 on June 15, 2020.
Billionaire Mukesh Ambani-owned Reliance Industries last year issued 42,26,26,894 partly paid-up equity shares (rights equity shares) for cash at a price of Rs 1,257 per rights equity share to the eligible equity shareholders, to garner Rs 53,124.2 crore.
Also read: RIL receives Rs 13,150.7 crore as the first call on partly paid-up equity shares
The rights shares credited to shareholders are called partly paid-up rights shares as shareholders made only part payment. The Rs 314.25 per rights equity share (face value of Rs 2.5) was paid at the time of allotment last year and the first call of Rs 314.25 (face value Rs 2.50 ) was paid in May 2021.
The last payment of Rs 628.50 (Rs 5 towards face value) will be payable in November 2021 after which the rights equity shares will be merged with fully paid-up shares.
Rights issue investors who had bought shares at current market price of Rs 1,554.95 per share will have to pay the final call payment of Rs 628.50 per share in November 2021, taking the final price to Rs 2,183.45 per share which is near the closing price of fully paid up shares of Rs 2,182.70 on June 10.
On the part payment of Rs 628.50 per share, investors who participated in the rights issue are sitting at a profit of 147.4 percent at Rs 1,554.95 per share.
The aggregate amount payable by shareholders towards the first call was Rs 13,281.05 crore. "The company has, till May 31, 2021, received Rs 13,150.70 crore representing around 99 percent of the amount due on the first call," Reliance Industries said in its BSE filing.
The company has completed the corporate action by crediting 41,77,93,830 (face value of Rs 5) shares to eligible shareholders, which have been available for trading on the stock exchanges with effect from June 10, 2021.Disclosure: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.