Tag: rights issue

Reliance makes final call for payment on rights issue, BFSI News, ET BFSI

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Reliance Industries Ltd (RIL) has a second and final payment from those who were issued 42.26 crore company shares in a rights issue. And to assist shareholders, it has re-activated WhatsApp Chatbot 7977111111.

In a regulatory filing, the company said a notice for payment of Second and Final Call on 42,26,26,894 partly paid-up equity shares of the face value of Rs 10 each issued and allotted on rights basis on May 15, 2020, has been issued.

Reliance had made a Rights Issue of 42.26 crore equity shares at Rs 1,257 each. The final call of 50 per cent of the amount – Rs 628.50 per share – has now become due.

Reliance’s rights issue at a total size of Rs 53,125 crore was the largest ever rights issue in India. This was the world’s largest rights issue by a non-financial company in the last 10 years.

The existing shareholders of the company were offered new shares of the company in a 1:15 ratio.

November 10, 2021, was the record date to decide holders of the Reliance Partly Paid-up shares, who need to pay the Second and Final Call.

On payment of the Second and Final Call amount, the partly paid-up shares will transition into fully paid-up shares of Reliance Industries, which are traded under symbol RELIANCE on both NSE and BSE.

To assist investors on the issue, Reliance has re-activated WhatsApp Chatbot.

The AI-enabled easy-to-use Chatbot is developed by Jio‘s group company Haptik and was previously used at the time of Rights Issue in May 2020, and the First call in May 2021.

Reliance in the notice said the Second and Final Call can be paid through online ASBA, Physical ASBA, 3-in-1 account, R-WAP facility (enabled for Net-banking, UPI, NEFT and RTGS payments) and payments through cheque/demand draft.

Payment of the Second and Final Call can be made from November 15 to November 29, 2021 (both days inclusive).

The credit of the fully paid-up equity shares on payment of the Second and Final Call is expected to take place within two weeks from the last date for payment mentioned in the Final Call Notice i.e. within two weeks from November 29, 2021. PTI ANZ BAL BAL



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IndusInd Bank promoters complete capital raise via rights issue

Banking & Finance

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lnduslnd International Holdings Ltd (IIHL), the promoter company of lnduslnd Bank, said it has completed capital raise through rights issue which was oversubscribed.

“IIHL raised capital at an overwhelming premium of 1,400 per cent towards the subscription of this rights issue,” it said in a statement late on February 16.

The balance 75 per cent of the warrants were redeemed at the price of ₹1,709 per share, amounting to ₹2,021.45 crore. This amounts to a premium of 61.4 per cent on Tuesday’s closing price of ₹1,058.65 of IndusInd Bank scrip on the BSE.

The bank’s scrip closed 2.46 per cent lower at ₹1,032.6 apiece on the BSE on Wednesday.

IIHL said it also plans to monetise some of the other mature, non-core investments to support the redemption of warrants.

“The funds from this divestment and the rights issue will be remitted on or before February 18,” it said.

Previously, in July 2019, 25 per cent of the warrants were subscribed on payment of ₹673.8 crore.

“This would lead to IIHL shoring up additional equity of 1.7 per cent in lnduslnd Bank, thereby bringing promoter equity to 15 per cent on a diluted basis,” it said.

The promoters also stressed they would like to increase their stake in the bank to 26 per cent.

“The board of IIHL has always been desirous of increasing its stake in lnduslnd Bank to 26 per cent, the statement further said.

“Towards this, it has raised the debt by pledging some shareholding of lnduslnd Bank for acquisition or strategic investment to convert IIHL into a listed operating entity outside India by the first week of September 2021,” it said.

Meanwhile, according to a regulatory filing on February 16, the promoters of IndusInd Bank have pledged 4.27 crore shares, amounting to 5.6 per cent stake, with Catalyst Trusteeship Ltd.

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IndusInd Bank promoters complete capital raise

Banking & Finance

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lnduslnd International Holdings Ltd (IIHL), the promoter company of lnduslnd Bank, said it has completed its capital-raise through a rights issue, which was oversubscribed.

“IIHL raised capital at an overwhelming premium of 1,400 per cent towards the subscription of this rights issue,” it said in a statement. This reiterates the confidence of IIHL’s global shareholders in the decision of IIHL and its subsidiary, IndusInd Limited, to redeem the balance of 75 per cent of the warrants at the price of ₹1,709 per share, amounting to ₹2,021.45 crore, the statement added.

Further, to support the redemption of warrants, IIHL has decided to monetise some of the other mature, non-core investments.

The funds from this divestment and the rights issue will be remitted on or before February 18, it said.

Previously in July 2019, 25 per cent of the warrants were subscribed on payment of ₹ 673.8 crore.

“This would lead to IIHL shoring up additional equity of 1.7 per cent in lnduslnd Bank, thereby bringing promoter equity to 15 per cent on a diluted basis,” it said.

The Board of IIHL has always been desirous of increasing its stake in lnduslnd Bank to 26 per cent, the statement further said.

“Towards this, it has raised the debt by pledging some shareholding of lnduslnd Bank for acquisition or strategic investment to convert IIHL into a listed operating entity outside India by the first week of September 2021,” it said.

Meanwhile, according to a regulatory filing on February 16, the promoters of IndusInd Bank have pledged 4.27 crore shares, amounting to 5.6 per cent stake, with Catalyst Trusteeship Ltd.

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