The RIL rights issue has been subscribed 1.1 times, having seen bids of over Rs 53,000 crore.

Share Market Live

NSE

The issue, which closes on June 3, is seen being oversubscribed 1.6-1.8 times doing by current demand, analysts said.

The rights entitlement (RE) issue has seen strong interest at a consistently high premium to its intrinsic value. The intrinsic value is the difference between RIL stock price and the rights issue price.

The RE closed at Rs 223 per share on Friday, up 41 percent from its May 20 listing price of Rs 158.

Disclosure

: RIL Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

First Published:Jun 1, 2020 5:26 PM IST