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Current procedure for rights issue is as below :
All rights issues from February 2020 will be in demat and online mode. ASBA is applicable. In this RIL issue,

1. Right entitlement shares already credited in shareholder's demat account.
2. Upon opening of rights issue on 20th May the ISIN for these entitlement shares will get activated similar to post IPO allotment. These entitlement shares will get listed on 20th and can be bought & sold like normal shares in the market through brokers. buyer has to apply before closure date.
3. Expected price will be about current market price less rights issue price with a discount
4. If one wishes to renounce the rights in anyone's favour, entitlement can be transferred off market like shares
5. For those who wish to apply all syndicate members/brokers will provide online links similar to the IPO with ASBA. Say in ICICIDirect, HDFC Sec , Kotak , Sharekhan etc. Here entitlement will be linked to online link. One can apply for less or equal or more numbers. If applied more, shareholders will be allotted his entitlement and any extra from those have not applied, in proportional manner to oversubscription over and above entitlement
6. After payment of 25% partly paid shares will be credited in Demat account and listed too for selling &buying.
7. Whenever balance amount is called at a later date, a record date will be announced prior to it. The shareholder ahs to pay the amount on number of part paid shares in his credit. If not paid the shares will be cancelled and amount and already paid will be forfeited,

Trust the above answers and benefits all.

Kotak Securities does not provide the facility to apply for the rights even if you have reliance shares in Kotak securities Demat account. iCICI direct provides this facility. Rather dumb of Kotak securities.

If you have demat with kotak, apply using R-wap via https://rights.kfintech.com/