When Does The Reliance Rights Issue Open And Close?

The much awaited Reliance rights issues, which will garner more than Rs 53,000 crores is slated to open on May 20th and close on June 3.

The stock has recently gone ex rights on May 14 and it closed at Rs 1458 on the National Stock Exchange on Friday.

The rights issue comprises of 1 share of Reliance shares for every 15 shares held in the company. The price of the shares is Rs 1,257.

It is believed that the rights issue will help the company to pare its debt and move closer to become a debt free company.

Most of the analysts are upbeat on the prospects of Reliance Industries and it's likely that the rights issue would sail through rather easily.

Recently, Facebook, Vista Equity and Silver lake all picked a stake in the Jip platforms.