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    Reliance Brings Back Chatbot to Assist Investors on Rights Issue

    Reliance Industries Ltd has once again launched an AI-enabled WhatsApp chatbot to address investor queries about the first call for payment of money relating to its Rs 53,125 crore rights issue. In a regulatory notice, Reliance said it had issued and allotted 42.26 crores partly paid-up equity shares of a face value of Rs 10 each for cash at a price of Rs 1,257 per rights equity share in May last year.

    “An amount of Rs 314.25 per rights equity share (comprising Rs 2.50 towards face value and Rs 311.75 towards securities premium) was paid on application and balance was payable in one or more subsequent call(s),” it said. “The first call of Rs 314.25 per rights equity share is payable from Monday, May 17, 2021, to Monday, May 31, 2021, both days inclusive.”

    The second and final call of Rs 628.50 per rights equity share will be payable from November 15, 2021, to November 29, 2021.

    “Clarifications on any query related to the payment of First Call may be sought on the toll-free number 1800 892 9999 (operational from Monday to Saturday between 9 am and 9 pm) or WhatsApp by tying ‘Hi’ to +91 79771 11111,” it said.

    Sources said the WhatsApp number is the Chatbot developed by Reliance group company Jio Haptik.

    The interactive chatbot can address queries related to general FAQs on the First Cll, important dates related, FAQs on payment, eligibility towards dividends, important links, etc, and can also calculate the amount an investor needs to pay, they said.

    AI-led natural language capability means the chatbot can also accurately answer simple English questions. The chatbot went live on Saturday, sources said.

    Previously, Reliance had set up the chatbox to answer investor queries when it had launched the rights issue last year.

    Under the rights issue, Reliance allotted 42.26 crore new shares at Rs 1,257 each to eligible shareholders in a 1:15 ratio in June 2020. The eligible shareholders had to pay only 25 percent of the subscription amount – Rs 314.25 per share – at the time of the allotment.

    At the time of the rights issue, the company had announced its schedule to call the remaining Rs 942.75 per share from the shareholders on these partly paid-up shares. Accordingly, the first call is made to the shareholders holding the Reliance PP (Partly Paid-up) shares as of May 12, 2021. The shareholders have between May 17 and May 31 to make the payment.

    The second and final call will come due in November 2021, when the remaining Rs 628.50 per share will need to be paid, to convert the Rs 5 face value partly paid-up shares into Rs 10 face value fully paid-up shares at par with other Reliance shares.

    ELE Times Research Desk
    ELE Times Research Desk
    ELE Times provides extensive global coverage of Electronics, Technology and the Market. In addition to providing in-depth articles, ELE Times attracts the industry’s largest, qualified and highly engaged audiences, who appreciate our timely, relevant content and popular formats. ELE Times helps you build experience, drive traffic, communicate your contributions to the right audience, generate leads and market your products favourably.

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