RIL RE SURGES 46.7% IN SEVEN TRADING SESSIONS

MUMBAI: The price of Reliance Industries Ltd’s rights entitlement (RIL RE) surged 46.7% in seven trading sessions on the special platform for them, which closed on Friday. The rights entitlement opened for trading on May 20 along with the ₹53,125-crore RIL rights issue. The rights issue closes for subscription on June 3. The issue has been priced at ₹1,257 per share. RIL RE ended trading at ₹221.75 on BSE on Friday, down 2.29% from its previous close. The rights entitlement began trading at ₹151.9 apiece on May 20. Total turnover of RIL RE shares on BSE is ₹627.93 crore and ₹1615.36 crore on the National Stock Exchange. The trading also saw participation from some institutional investors such as French bank Societe Generale, which bought 3.25 million rights entitlement through the stock exchange platform on May 20.