In total, buyers spent an aggregate Rs 2,243 crore ($300 million) in seven trading sessions to own RIL-REs, according to market data.
The RIL shares have evinced huge response in the online trading sessions with buyers consistently outnumbering sellers and willing to pay a premium over and above the intrinsic value of the share.
Under the RIL rights issue existing shareholder can buy one new share for every 15 held.
The Rights Entitlements allotted in 1:15 ratio created nearly Rs 9,500 crore wealth for the RIL shareholders. With this enormous collection, the issue has now reached its last leg of the process.
It was evident that the strong demand for REs will result into high subscription of the Rights shares. It is a well-observed phenomenon that in such issues with assured allotment, institutional investors invest in the last few days.
Now, that the trading in Right Entitlements is over, the RE holders have until Wednesday, June 03 to use up these Entitlements to apply for partly paid RIL shares. Each RE can be converted into one partly paid RIL share by paying Rs 314.25 each.
The stocks were purchased through the Demat account on the BSE and NSE as per the 'T+2 rolling settlement basis', where 'T' refers to the date of trading.
In case, retail investors fail to subscribe by the mentioned date, they will lose out on the Rights Issue benefits. The unsubscribed portion will be then allotted to those investors applying for more shares than their Right Entitlements.
Finally, RIL Promoter Group have confirmed that they will subscribe to all of the unsubscribed portion in this Issue if any.
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(With inputs from ANI)