Reliance makes final call for payment on rights issue

Reliance Industries Ltd (RIL) has a second and final payment from those who were issued 42.26 crore company shares in a rights issue.

And to assist shareholders, it has re-activated WhatsApp Chatbot 7977111111.

In a regulatory filing, the company said a notice for payment of Second and Final Call on 42,26,26,894 partly paid-up equity shares of the face value of Rs 10 each issued and allotted on rights basis on May 15, 2020, has been issued.

Reliance had made a Rights Issue of 42.26 crore equity shares at Rs 1,257 each. The final call of 50 per cent of the amount – Rs 628.50 per share – has now become due.

Reliance’s rights issue at a total size of Rs 53,125 crore was the largest ever rights issue in India. This was the world’s largest rights issue by a non-financial company in the last 10 years.

The existing shareholders of the company were offered new shares of the company in a 1:15 ratio.

November 10, 2021, was the record date to decide holders of the Reliance Partly Paid-up shares, who need to pay the Second and Final Call.

On payment of the Second and Final Call amount, the partly paid-up shares will transition into fully paid-up shares of Reliance Industries, which are traded under symbol RELIANCE on both NSE and BSE.

To assist investors on the issue, Reliance has re-activated WhatsApp Chatbot.

The AI-enabled easy-to-use Chatbot is developed by Jio’s group company Haptik and was previously used at the time of Rights Issue in May 2020, and the First call in May 2021.

Reliance in the notice said the Second and Final Call can be paid through online ASBA, Physical ASBA, 3-in-1 account, R-WAP facility (enabled for Net-banking, UPI, NEFT and RTGS payments) and payments through cheque/demand draft.

Payment of the Second and Final Call can be made from November 15 to November 29, 2021 (both days inclusive).

The credit of the fully paid-up equity shares on payment of the Second and Final Call is expected to take place within two weeks from the last date for payment mentioned in the Final Call Notice i.e. within two weeks from November 29, 2021.