Reliance Industries' partly paid share price more than doubles on debut

Close at Rs 698 against the issue price of Rs 314.25 and 73% premium to intrinsic value

Reliance Industries’ partly paid (RIL PP) shares (with a face value of Rs 2.5 each) — issued as part of the Rs 53,124-crore rights issue — made a stellar debut on Monday with the scrip ending at Rs 698, more than double the issuance price of Rs 314.25. RIL fully paid (RIL FP) shares (with a face value of Rs 10 each) ended at a lifetime high of Rs 1,615, surpassing the previous high of Rs 1,610 made on December 19 last year. At the last closing price, the intrinsic value of RIL PP works out to Rs 403.75, a