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The actions of the Dependence of the Industries of Rights of conditional access (RIL-REL) moved higher by up to 34 per cent to Rs 211.60 level on the National stock exchange (NSE) on Wednesday in the first day of your marketing. The stock opened at Rs 158.05, and hit an intra-day low of Rs 152 on the bag until the moment.
At 12:25 pm, RIL-REL was the trade 29 per cent higher at Rs 195.05 with around of 22.82 million shares changed hands on the NSE, the exchange of sample data.
“The REs to the resignation of RIL are allowed in the stock exchange, with effect from the date Wednesday, May 20, 2020. The shares are settled on T+2 rolling settlement basis and the transactions will be settled on trade for trade basis. The REs will be traded in dematerialized form only,” the exchanges said in their respective announcements.
The platform allows shareholders eligible to renunciate their actions for a price. Up to now, shareholders who do not wish to apply, had to leave his RE lapse or had to transfer free of charge. The negotiation on RE-opening, together with the rights issue, the May 20 and closes May 29. Meanwhile, the rights issue will remain open until 3 June.
“Given the diversity of the shares of RIL, which can be expected of the rights of the trading platform is quite fluid. The trade is going to happen as it does in any other resource. However, participants are not allowed to trade intra-day,” said Peter Mehra, business analyst at Zerodha. CLICK HERE TO READ THE FULL REPORT.
In Rs 53,125 crore, RIL of the rights issue is India the largest equity fundraising. RIL shareholders will be able to request an action on the issue of rights for every 15 shares as of May 14.
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