419 million shares of RIL rights issue to commence trading on Friday

These shares-issued as part of the Rs 53,124-cr rights issue last year-have become fully-paid up after payment of final tranche last month

Nearly 419 million shares of Reliance Industries (RIL), India’s most valuable company, will commence trading on Friday. These shares—issued as part of the Rs 53,124-crore rights issue programme last year—have got converted into fully-paid up equity shares after the payment of the final call option last month.

Shares of RIL last closed at Rs 2,455.85, with a gain of 1.6 per cent over the previous day’s close. The new shares are valued at Rs 1.03 trillion—nearly double their issue price. After including the new shares, RIL’s market cap works out to Rs 16.6 trillion.

Tata Consultancy Services (TCS), India’s second-most