Reliance Industries sets May 14 as 'record date' for Rs 53,125 crore rights issue

MUMBAI: Reliance Industries (RIL) has set May 14 as the 'record date' for the Rs 53,125 crore rights issue. "The rights issue committee, constituted by the board of directors of the company, has, at its meeting held today (Saturday), fixed May 14 as the 'record date' for the purpose of determining the equity shareholders entitled to receive the rights entitlement in the rights issue (eligible shareholders)," the company said in a regulatory filing on Saturday evening. The rights issue opening and closing dates would be informed separately, it said. On April 30, the RIL Board approved the rights issue of up to Rs 53,125 crore at Rs 1,257 per share. The rights entitlement ratio would be one equity share for every 15 equity shares held by eligible shareholders as on the record date. The proposed rights issuance will be the first by RIL in three decades. The issue will be structured as partly paid shares and will enable shareholders to phase out the outlay on their investment over time. (IANS)

12 rescued as Mumbai tenement caves in Mumbai, May 10: At least 12 persons were rescued and some others feared trapped in the debris when a three-storied tenement (chawl) caved in here on Sunday, officials said. According to the BMC Disaster Control, a portion of the ground-plus-two storied Deepjyoti Chawl at Laljipada in Kandivali West, suddenly caved in around 5 a.m., catching the occupants unawares as they were sleeping. Teams of the Mumbai fire brigade and NDRF have rushed to the spot. Massive rescue and relief operations have been mounted to save those still suspected trapped under the rubble. While the western portion of the tenement crashed, seven trapped on the eastern portion were rescued by the relief teams which cut the metal grills with cutters to evacuate them. (IANS)

Also Read: Five Air India pilots test positive for coronavirus