EGF, managed by the Capital Group, bought 16.13 million shares, or a 1.02 per cent stake, in RIL from the open market in the March-ended quarter. When share prices were down in the fourth quarter, Life Insurance Corporation added 2.4 million shares of RIL to its kitty, taking its stake to 5.52 per cent. The purchase would have cost LIC over Rs 250 crore. LIC had also bought over six million shares of RIL in the third quarter, at an investment of around Rs 800 crore.
Today, it holds $131 billion in assets under management.
The reduction in holdings comes at a time when technology firms are facing cross currency headwinds due to volatility in the global financial markets
The rights issue price has been set at Rs 1,257 a share, a discount of nearly 14 per cent to the last closing price of Rs 1,459. The company had set May 14 as the record date for the rights issue, which meant shareholders as on that day would be eligible to apply. Shareholders will be able to apply for one share for every 15 shares held.
While three of the top five FPIs - Capital, Government of Singapore, and Vanguard - have seen their investment value more than triple, India's benchmark indices have risen just 70%.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances