In RIL's right issue, only 25% is initially paid and the balance can be paid in two installments by November 2021.

(Commercial Representative) Mumbai, 18 May 2020, Monday

For the shareholders of Reliance Industries, the shareholders will be able to pay the initial issue of the shares, which will open tomorrow, May 30, 2020, by paying only 3%. After that, the company has said that the shareholders will have to pay 3% in two installments in May and November next year.

Facility to pay 3% at the time of payment and 5% in May 2021 and the remaining 30% in November 2021: Right issue of Rs. 5,12 crore per share for 12 shares at Rs. 12 will open on May 30.

The current state of affairs of Reliance Industries has offered incentives in this mega Rs 2,18 crore right issue. In this right issue, as per the record date of May 12, 2020, the eligible shareholders have been offered 15 shares at a price of Rs. 18 per share. This issue will close on June 3, 2020.

The company said in a regulatory filing that out of the Rs 15 price per share, only 3 per cent will have to be paid at the time of subscription. The same amount i.e. 5% will have to be paid in May 2021 and the remaining 50% will have to be paid in November 2021. The Board of Directors' Right Issue Committee, in its meeting held on May 12, 2020, has decided the payment structure for this. After paying 3% of the amount due at the time of application, out of the remaining Rs. 3.5 per share, Rs. 312.5 i.e. 5% will have to be paid in May 2021 and the remaining 30% i.e. Rs.

Reliance Industries, led by Mukesh Ambani, announced on April 30, 2020 that it would issue Rs 2,17 crore worth of right shares in a 1:12 ratio. This is the biggest issue of its kind in the last three decades. In which it has been decided to issue one share to every 15 shareholders at the price of Rs. 15 per share.

Companies facing a general shortage of rock usually issue rights when they really need money. But Reliance Industries is raising the right issue to raise funds, despite having ૨૩ 2.8 billion in cash and equivalent liquidity. The company is trying to compensate its shareholders and reduce the group's debt and show that the promoters have faith in the Reliance Group.

In this entire rights issue, the shareholder will not buy as much as the unsubscribed - that is, the underwriter will buy the remaining shares by the full promoter Ambani family.

Reliance Industries last issued convertible debentures in 191. One of the debentures was converted into equity shares at a price of Rs. In August last year, Mukesh Ambani announced plans to make Reliance a zero-debt company by 2021. As part of this plan, Reliance is bringing strategic partners to its various businesses. As on March 31, 2020, Reliance Industries has an outstanding debt of Rs 2,3,8 crore. The company has Rs 1,3,8 crore in cash and Rs 1,31,08 crore in net debt.

Reliance Industries has struck a deal to sell a minority stake in digital unit Geo Platforms, including Facebook, in a strategic investment sale as part of a debt repayment plan. In addition, the company is in talks to sell its holdings in the oil and chemicals business to Saudi Aramco for 15 billion, while in the retail sector, BP has sold 30 per cent of its holdings to BP Plaque for Rs 2,000 crore. In addition, the telecom tower business has been sold to Brookfield for Rs 2,500 crore. Shares of Reliance Industries fell by Rs 15.5 to Rs 190.5 today.