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Reliance Industries-Entitlement average premium demand rise to 19%

Reliance Industries-Entitlement witnessed a further rise in demand with average premium increasing by over 19 percent.

Reliance Industries-Entitlement

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  23 May 2020 11:15 AM GMT

Mumbai: Reliance Industries-Entitlement witnessed a further rise in demand on Friday with the average premium increasing by over 19 per cent.

RIL-REs, on an average, commanded a premium of Rs 33.45 on Friday, 19.2 per cent higher than Rs 28.07 from the previous trading session and 138.9 per cent up from Rs 14 on Wednesday.

Right Entitlements trading at a premium to the intrinsic value reflects continued strong interest, analysts said.

The volume-weighted average price (VWAP) of RIL-REs improved to Rs 218.76 on Friday, May 22, 2020, from Rs 215.07 of Thursday, and Rs 184 of Wednesday.

Intrinsic value of the Rights Entitlement is the difference between RIL share price and the Rights Issue price of Rs 1,257. At RIL's VWAP of Rs 1,442.3, the RE's intrinsic value stood at Rs 185.3 on Friday, which is the difference between Rs 1,442.3 and rights issue price of Rs 1,257.

Over Rs 1,000 crore of RIL-REs have been traded on stock exchanges in the first three days of listing, notwithstanding the fact that it is listed in trade-to-trade segment and buyers must take delivery of the REs. (IANS)

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