Successful rights issue makes the Rs 10 Lakh Crore company Reliance Industries

Reliance Industries (RIL) again achieved Rs 10 lakh crore market capitalization (MCAP) after succeeding in the largest rights issue in the country. At Rs 1,579.95 on BSE, RIL jumped 2.43 per cent to close. The company’s mcap reached Rs 10,01,594.04 crore after this surge in shares. At this level, the company’s shares were trading at the earlier May 11, 2020. The question of rights at the organization closed on Wednesday. The company had been aiming to raise Rs 53,124 crore in this issue. The firm has received requests for more shares. That has been the country’s largest rights issue so far.

Reliance Industries has given 67.5 per cent returns to its shareholders since the lockdown was implemented. The lockdown came into force on March 24 across the country. The benchmark Nifty has given a return of 28.6 per cent in this period. On April 22, the company announced that Facebook is taking a 9.99 per cent stake in its subsidiary Jio Platform for Rs 43,574 crore. The company’s shares have risen 15.9 per cent since this announcement.

The company’s rights issue remained open for 34 days. During this period, investors bid for shares worth more than Rs 84,000 crore. It was the world’s largest rights issue for non-financial companies in the last 10 years. The company’s shares rose 7.8 percent in this 34 days. While the Nifty gained 1.7 percent during this.