Reliance mega rights issue oversubscribed

Reliance Industries’ mega Rs 53,124 crore rights issue was oversubscribed 1.1 times, two days ahead of the issue closing.

According to issue subscription data on stock exchanges, total bids received for RIL’s rights shares stood at 46.04 crore, overshooting the 42.26 crore shares on offer by 8.9 per cent.

BSE has received applications for 44.85 crore rights shares, while NSE got applications for 0.57 crore. The non-ASBA bid quantity stood at 0.62 crore rights shares (received at Registrar through R-WAP).

The oversubscription figure indicates that shareholders applied for many more shares than their entitlements.