RIL fixes record date for first call on partly paid-up equity shares

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SME Times News Bureau | 04 May, 2021
The Rights Issue Committee constituted by the Board of Directors of Reliance Industries (RIL) has fixed May 12 as the record date for the purpose of determining the holders of the partly paid-up equity shares who shall be liable to pay the money on the 'first call.

In a regulatory filing, RIL said that pursuant to the Letter of Offer dated May 15, 2020, the company had issued and allotted, on rights basis, over 42.26 crore equity shares of the face value of Rs 10 each as partly paid-up equity shares (Rs 2.50 paid-up per share).

RIL had through the letter dated March 26, 2021, intimated that the first call of Rs 314.25 per partly paid-up equity share (including a premium of Rs 311.75 per share) would be payable on the shares from May 17, 2021 to May 31, 2021.

"The Rights Issue Committee constituted by the Board of Directors of the company has fixed Wednesday, May 12, 2021 as the 'Record Date' for the purpose of determining the holders of the partly paid-up equity shares who shall be liable to pay the money on the First Call.," it said.

Trading of the Rs 2.50 partly paid-up equity shares of the company on the stock exchanges would be suspended with effect from May 11, 2021. The last date for trading of these partly paid-up shares will be May 10, 2021, the filing said.

On Tuesday, shares of Reliance Industries on the BSE settled at Rs, 1,916.55, lower by Rs 42.70 or 2.18 per cent from its previous close.