In RIL's right issue, only 25% is initially paid and the balance can be paid in two installments by November 2021.

An offer to relieve the shareholders of the Ambani family

For the shareholders of Reliance Industries, the shareholders will be able to pay only 25% of the initial amount in the right issue of shares to be opened tomorrow, May 20, 2020. After that, 75% of the amount will have to be paid by the shareholders in two installments in May and November next year, the company said.

25% at the time of payment and 25% in May 2021 and the remaining 50% in November 2021: Right issue of Rs.53,125 crore per share at Rs.1257 per share will open on 20th May.

The current situation of Reliance Industries is that this mega Rs. 53,125 crore in incentive offer. In this right issue, as per the record date of May 14, 2020, 15 shares have been offered to the entitled shareholders at a price of Rs. 1257 per share. This issue will close on June 3, 2020.

The company said in a regulatory filing that out of the Rs 1,257 per share, only 25% would have to be paid at the time of subscription. The same amount i.e. 25% will have to be paid in May 2021 and the remaining 50% will have to be paid in November 2021. The right issue committee of the board of directors in its meeting held on May 17, 2020 has decided the payment structure for this. Out of the remaining Rs.924.75 per share, Rs.314.25 i.e. 25% amount has to be paid in May 2021 and the remaining 50% i.e. Rs.628.50 in November 2021 after paying 25% at the time of application.

Reliance Industries, led by Mukesh Ambani, announced the issue of right shares worth Rs 53,125 crore in a 1:15 ratio on April 30, 2020. This is the biggest issue of its kind in the last three decades. In which it has been decided to issue one share to every 15 shareholders at the price of Rs. 1257 per share.

Companies facing a general shortage of rock usually issue rights when they really need money. But Reliance Industries is raising the right issue to raise funds despite having 23 23.4 billion in cash and equivalent liquidity. The company is trying to compensate its shareholders and reduce the group's debt and show that the promoters have faith in the Reliance Group.

The last convertible debentures were issued in Reliance Industries in 1991. One of the debentures was converted into equity shares at a price of Rs. In August last year, Mukesh Ambani announced plans to make Reliance a zero-debt company by 2021. As part of this plan, Reliance is bringing strategic partners to its various businesses. As on March 31, 2020, Reliance Industries has an outstanding debt of Rs 3,36,294 crore. The company has Rs 1,75,259 crore in cash and Rs 1,61,035 crore in net debt.

Reliance Industries has struck a deal to sell a minority stake in digital unit Geo Platforms, including Facebook, in a strategic investment sale as part of a debt repayment plan. In addition, the company is in talks to sell its holdings to Saudi Aramco for 15 15 billion in the oil and chemicals business, and has sold 50% of its holdings to BP Plaque in Fuel Retail for Rs 7,000 crore. In addition, the telecom tower business has been sold to Brookfield for Rs 25,200 crore. Shares of Reliance Industries fell by Rs 18.25 to Rs 1,440.65 today.