You can either sell or be the full amount till November end to avoid full loss on Reliance industries limited shares.
Reliance industries limited have given the second call for the shares of rupees 628.5 per share to be paid later this month. All the shares which are yet to be paid or have not responded to the call have got delisted from the stock exchange on 8 November that is yesterday.
According to the notification to the stock exchange Reliance Industries limited has decided 10 November as the record day for final payment of the call.
After this payment, Mukesh Ambani’s Reliance industries limited will complete the largest rights issue of rupees 53124 crores, which is the largest seen by any domestic market to date.
Reliance industries limited that is RILs partly paid shares are trading at 1836.70 post share as of 8 November 2021. The fully paid up shares of oil to telecom of Mukesh Ambani’s trading at 2469.50 per share.
According to the notification released, After the decision made about the record day and the listing date for the final payment of the call the shareholders of this share were supposed to sell their shares by the latest of November 8, 2021, or they are supposed to pay Rs. 628.50 per share anytime between 15 November and 29th November 2021.
In case anyone or some people fail to do both of the above the shares will be forfeited. Is the amount invested earlier will also be lost due to non-compliance with the instructions.
According to the articles of association that is AOA of the company, both the conditions are the satisfied company can forfeit the share.
Reliance industries limited allotted partly paid shares to the shareholders by making the payment of 25% on the first call that was of rupees 314.25 per share. All the shareholders who did not pay the first call in time 8% per annum for the delayed payment actual payment date.
For all the shareholders who paid the first call payment, Arnav is supposed to pay the second call on or before the 29th of November 2021. Failing to which shareholder will be losing the initial money invested in the first call.
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