Billionaire Mukesh Ambani's Reliance Industries Ltd (RIL) on Thursday announced fund raising of Rs 53,125 crore by way of a 1:15 rights issue, the first such issue in nearly three decades, as it steps up efforts to pare debt. One share will be offered for every 15 shares held at Rs 1,257, a 14 per cent discount to the closing price for April 30. In its earnings statement for fourth quarter, RIL said this would be India's biggest rights issue.from IndiaTV Business: Google News Feed https://ift.tt/2VRGxWz
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