Reliance's listing of rights issues, market cap close to Rs 11 lakh crore

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Mumbai, 15 June 2020 Monday

The rights issue of Mukesh Ambani's Reliance Industries made history on Monday with a banging entry and the company's market cap peaked at Rs 10.92 lakh crore.

Shares of Reliance on the National Stock Exchange (NSE) traded at a record high of 1626.95 so far in Monday's trading, with the market cap now at just Rs 8,000 crore from Rs 11 lakh crore to Rs 10 lakh 92 thousand crore on Monday.

No listed company in the country has touched the market cap of Rs 11 lakh crore so far. Two crore 45 lakh shares of Reliance were traded on the National Stock Exchange on Monday at Rs 1,612.30. All suspicions were disproved after the right issue was listed.

A few shares of Reliance were listed on Monday, opening at Rs 690 and hitting a high of Rs 710.65.

Market experts had hoped for a spectacular listing of the right issue, with experts believing that it would be listed at a price of Rs 600 to Rs 650, although all those predictions turned out to be wrong and Reliance stocks made a strong entry into the market.

Under this right issue, investors have been allotted one share on 15 shares of RIL. The share price of Rs 10 was fixed at Rs 1257 with a premium of Rs 1247.

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