Mumbai: Buoyed by the strong response to its rights issue, the partly paid-up shares of Reliance Industries will likely be listed at around Rs 650 apiece on Monday, a premium of at least 50 per cent to its intrinsic value, according to market analysts.
The intrinsic value of RIL’s partly paid-up shares is Rs 397 apiece, based on Friday’s closing price of Rs 1,589, and constitutes 25 per cent of a fully paid-up RIL share.
Analysts have calculated that the partly paid-up shares will be listed at around Rs 650, which is the difference between the closing price on Friday and the rights issue price of Rs 1,257 plus the first instalment of Rs 314.25.
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