Mukesh Ambani's RIL mulls rights issue. What we know
Mukesh Ambani's Reliance Industries will announce its financials for the March quarter on April 30. As per reports, RIL is considering issuing equity shares to existing shareholders on a rights basis.
"The meeting of the board of directors of the company is scheduled on April 30, to consider and approve the standalone and consolidated audited financial results of the Company for the quarter / year ended March 31, 2020," RIL said in a filing to the Bombay Stock Exchange on Monday.
"The board will recommend dividend on equity shares of the company; and consider a proposal to issue equity shares to existing shareholders on rights basis, as may be permitted under applicable law, subject to such regulatory/statutory approvals, as may be required," it added.
The biggest company in India by market cap, Reliance, has been in the limelight lately after Facebook's mega $5.7 billion investment to buy a 9.99 per cent stake in Reliance telecom div Jio.
The RIL share price stands at Rs 1,430 at 09:20 am on April 29 and is trading 0.14% higher.
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