At 1: 15, RIL plans India’s largest rights offer

Reliance Industries (RIL), India’s most valued company, plans to raise Rs 53,125 crore through a rights offer at Rs 1,257 a share, a 14% discount to the stock’s Thursday close on the BSE at Rs 1,467. This is RIL’s first fund-raise from the public in three decades and the largest rights offering by an Indian company. Last year, Vodafone Idea and Airtel had come out with rights offerings of about Rs 25,000-crore each.

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