Under the proposed rights issue, every shareholder will get a rights entity entitlement to subscribe to one equity share for every 15 shares of RIL they hold.

The rights issue has been priced at Rs1,257, a discount of just over 14% on Thursday’s closing price of Rs1,467.05 per share.

At 50% shareholding, Ambani will have to bring in at least Rs26,600 crore to fund his subscription for the rights issue.

The promoter and promoter group of the company have confirmed they will subscribe to the full extent of their aggregate rights entitlement. In addition, they will also subscribe to all the unsubscribed shares in the Issue.

“The proposed Rights Issuance will be the first by RIL in three decades. The issue will be structured as partly paid shares and will enable shareholders to phase out the outlay on their investment over a period of time,” the company said on a statement

“Diversified earnings streams and conservative Balance Sheet place Reliance at an advantaged position to face the ongoing macro challenges. S&P and Moody’s have both reaffirmed Reliance’s investment grade ratings. Transformative strategic investments in Consumer facing business have firmly re-positioned Reliance as India’s pre-eminent Consumer/Technology company. Jio and Retail platforms underpin Reliance’s participation in the next leg of value creation in India” it added.