reliance mutual funds for nri

Question 1

Can NRIs apply for the Reliance rights issue?

Accepted Answer

Reliance rights Issue is a facility for only resident investors and not allowed for NRIs to apply for it. The existing resident shareholders will have to pay 25 percent for subscribing to the rights issue and the rest will be paid in 2 installments with no limit for the number of shares to apply for.

Question 2

Who is eligible for the Reliance rights issue?

Accepted Answer

Only existing shareholders are eligible for Reliance rights issues. They are entitled to RIL at a ratio proportional to the number of shares they are already holding. The purpose is to increase the company capital by maintaining the same number of shareholders

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