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RIL stocks rise, market cap crosses Rs 10 lakh cr

Shares of Reliance Industries (RIL) rose on Monday to take its market capitalization back above the Rs 10 lakh crore mark.

At 11.04 a.m., RIL shares on the BSE were at Rs 1,593.10 per share, higher by Rs 31.30 or 2 percent from the previous close. So, far it has touched an intra-day high of Rs 1,614.85 per share.

Its market capitalization is at Rs 10,09,930.36 crore.

The surge comes after the company fixed 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.

Further, in a major boost for the company, US-headquartered Vista Equity Partners would invest Rs 11,367 crore into Jio Platforms.

This investment, announced last week, values Jio Platforms at an equity value of Rs 4.91 lakh crore and an enterprise value of Rs 5.16 lakh crore.

This is the third investment for Jio after the over Rs 43,000 crore investment announced by Facebook and the Rs 5,655 crore investment by Silver Lake.

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