What is Reliance partly paid?
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.
On Thursday, RIL shares declined 1.4% to close at ₹2,599.35 while Reliance partly paid shares ended at a ₹13-discount to fully paid stock at ₹1,957.50. Trading in partly paid-up equity shares of the company with a face value of ₹5 would be suspended from November 9, the company said in a regulatory filing.
Payment may be made through net banking or UPI or NEFT or RTGS modes. The Company and the RTA shall not be responsible if the application is not successfully submitted or if it is rejected during the process while using the R-WAP facility.
A partly paid share is a share in a company which has only partial been paid compared to the par value, with the understanding that as the company requires more funds, calls will be made from time to time to request more money until the shares are fully paid, when no further calls can be made.
A partly paid share is a share in a company, which has only partially been paid compared to the full issue price. This means that investors like you and I can buy these shares by not paying the full issue price. The balance amount for partly paid shares can be made in instalments when calls are made by the company.
There is no fixed number of shares that can be issued by the company. So, when a company issues shares for subscription, it can be either fully paid shares or partly paid shares. Share is a legal right/ownership in the stake of a company, that a person could hold in a company.
With the delisting date and the record day set for the final call payment, shareholders of the 42,26,26,894 partly paid-up equity shares must sell their shares latest by 8 November, or pay Rs 628.50 per share during 15-29 November 2021, according to the notification.
The second and final call payment for Reliance Industries’ (RIL) Rs 53,124-crore rights issue opened on Monday. The holders of its partly-paid shares will have to pay Rs 628.5 by November 29. After the formalities related to the final call are complete, the partly-paid shares will get converted into fully-paid shares.
With partly paid shares, investors get an opportunity to buy a company’s stock at a lower price. But they need to pay the remaining instalments when due or if they exit before the due date. Once all the instalments are paid on these shares, they are converted into fully paid shares and traded at the same price.
The payment can be made between May 17th to May 31st on the Registrar and Transfer agent website. You can reach out to the registrar of the company at 1800 892 9999 or email them at email@example.com for guidance on making the call money payment.
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. Reuters Reliance’s rights issue at a total size of Rs 53,125 crore was the largest ever rights issue in India.
What is Reliance First call money?
Reliance Industries (RIL) received Rs 13,150.7 crore as the first call on partly paid-up equity shares. The company, till May 31, 2021, received Rs 13,150.7 crore on first call representing around 99 percent of the total amount due, the company said in the regulatory filing.
Fully paid shares are shares issued for which no more money is required to be paid to the company by shareholders on the value of the shares. Fully paid shares differ from partially paid shares, in which only a portion of the market value has been received by the company.