Reliance’s partly-paid shares to debut on Monday

Reliance Industries’ (RIL’S) partly-paid shares will debut on Monday. These were issued in the rights issue programme, which concluded on June 3.

Close to 442.6 million partly paid-up shares, with face value of ~2.5 per share, were issued during the rights issue programme, at ~314.25 per share. These are worth a fourth of the fully-paid up shares traded on the bourses. On Friday, RIL’S fully-paid up shares closed at ~1,589, up 3.3 per cent. Based on the last closing price, the partly-paid up shares are worth ~397.2 — a premium of 26.4 per cent to the rights issue price. Market players said the shares would move lock-step with the fully-paid up shares, but could trade at a premium given their low denomination.