The price of Reliance Industries’ (RIL’s) partly-paid (PP) and fully-paid (FP) shares has started to converge ahead of the first call payment later this month.
On Tuesday, the partly paid shares-–issued last year during its Rs 53,124-crore rights issue--traded at a premium of just Rs 16.3. In November 2020, the premium was as much as Rs 130.
Earlier this month, RIL announced the details for the first call payment. Under this, holders of RIL PP, as on the record date of May 12, will have to pay their second installment of Rs 314.25 per share to the company by May