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Key Deal Highlights
- Largest Rights Issue in the History of Indian Capital Markets
- First Issue under new Rights Issue mechanism
- First Issue post introduction of RE trading on stock exchange platform
- First Issue of its kind by Reliance Industries in almost 30 years
- First Rights Issue under online ASBA and RWAP facility
SBICAPS has Brought to the Table the Entire Strength of SBI Group including, SBI Bank, SSL & SBI Wealth Management
- SBICAPS – Despite the challenging lockdown circumstances due to Covid, SBICAPS through SBI Group network has extended full fledged support to the transaction and also adhered to the tight timelines
- SBI Bank – Enabled online ASBA platform within a quick turnaround time to facilitate ease of application for its 430mn+ customers and created awareness amongst its 20,000+ ASBA branches for the Issue
- SBICAPS Securities – Actively reached out to the eligible shareholders through its network of 100+ branches and played a key role in addressing investor queries
- SBI Wealth Management – Played an important role in reaching out to HNI Clients through their Relationship Managers for the Rights Issue
Deal Summary
| Rights Issue Size | INR 531.2 Bn | |
| Type of Rights Issue | Fast Track Rights Issue | |
| Rights Issue Price | INR 1,257 per Rights Equity Share | |
| Payment Schedule | INR 314.25, i.e., 25% of the Issue Price on Application in May 2020 | |
| INR 314.25, i.e., 25% of the Issue Price in May 2021 | ||
| INR 628.50, i.e., the balance 50% of the Issue Price in November 2021 | ||
| Issue Opening Date | Wednesday, May 20, 2020 | |
| Issue Closing Date | Wednesday, June 3, 2020 | |
| Rights Ratio | 1:15 | |
| Record Date | Thursday, May 14, 2020 | |
| Last Date for Credit of Rights Entitlements | Tuesday, May 19, 2020 | |
| Last Date For On Market Renunciation | Friday, May 29, 2020 |