Moneycontrol
Last Updated : May 28, 2020 07:40 PM IST | Source: Moneycontrol.com

Reliance Industries Rights Entitlement gains momentum ahead of issue closing

Reliance RE share price closed at Rs 229.75 on the National Stock Exchange on May 28, up 14 percent over its previous session.

 
 
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Reliance Industries - Rights Entitlement (RE) gained momentum ahead of its issue closing on May 29.

Reliance RE share price closed at Rs 229.75 on the National Stock Exchange on May 28, up 14 percent over its previous session.

It touched an intraday high of Rs 235 and low of Rs 201 after opening at Rs 205. The stock traded with volumes of more than 66 lakh shares.

Close

The trading in Reliance RE will be stopped from closing of May 29 to determine the eligibility of shareholders for partly paid-up rights shares.

As per T+2 settlement, shareholder will be eligible for partly paid-up rights shares if he/she holds the Rights Entitlement on June 2 and the payment of first installment (Rs 314.25) has to be made by June 3, the last day of Rights issue.

The partly paid-up rights shares will be allotted and credited to shareholders by June 11 and same shares will be listed on June 12.

The second installment of Rs 314.25 will be due in May 2021 and the final installment of Rs 628.50 in November 2021.

Meanwhile, Reliance Industries share price closed at Rs 1,472.25, up 1.85 percent.

(Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd)
First Published on May 28, 2020 06:12 pm
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