A similar amount will be due for payment in May 2021. The balance 50% has to be paid in November 2021, the company said in a regulatory filing.
Billionaire Mukesh Ambani’s firm had on April 30 announced fund raising of Rs 53,125 crore by way of a 1:15 rights issue – India’s biggest and first such issue by the firm in nearly three decades.
Of the Rs 1,257 per share price, only 25% is to be paid at the time of subscription.
Oil-to-telecom conglomerate’s rights issue will open for subscription of shareholders on May 20 and will close on June 3. One share will be offered for every 15 shares held at Rs 1,257.