Reliance Industries - Rights Entitlement (RIL - RE) share price opened at Rs 158.05 on the National Stock Exchange on May 20, a 4 percent premium over previous closing price of Rs 151.90. The Rights Entitlement share price is a difference between the previous closing price of Reliance Industries at Rs 1,408.9 and the rights issue price of Rs 1,257 per share.
Given the volume in trade of RIL - RE, it seems that demand is too high. As a result, RIL - RE share price jumped 39.3 percent intraday to hit a day's high of Rs 211.60. It was trading at Rs 195.50, up 28.70 percent or Rs 43.60, on the NSE at 11:58 hours IST, and the trading volume was much higher than Reliance Industries.
Current trading volumes of RIL - RE stood at over 2.12 crore shares, while Reliance Industries volume at 1.6 crore shares. The trading price band for RIL - RE is Rs 91.15 on the lower side and Rs 212.65 on the higher end side.
For claiming the right issue shares, the last date for buying would be May 29 (i.e. last date for on market renunciation) so that shares can be transferred to your account on June 2 (T+2) and one can make a payment of first installment by June 3.
"Eligible equity shareholders are requested to ensure that renunciation through off-market transfer is completed in such a manner that the Rights Entitlements are credited to the demat account of the Renouncees on or prior to the issue closing date," Reliance stated in the FAQ.
The trading in these shares will be allowed only after you get a delivery and not an intraday trade.
Of the total right issue price of Rs 1,257 per share, the first installment is 25 percent of the amount i.e Rs 314.25 which will be paid by the investor at the time of application (June 3). Another 25 percent i.e. Rs 314.25 per share will be paid by the investor in May 2021 and the balance 50 percent i.e. Rs 628.50 per share will be paid in November 2021 on-call by the company at the relevant time.
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