Reliance Industries Limited (RIL), a company led by renowned entrepreneur Mukesh Ambani, says that the company’s bonus shares will be like a Diwali gift for shareholders. Actually, the listing of bonus shares will happen in the upcoming festive season. The company’s board of directors has approved bonus shares in the ratio of 1:1 on equity shares of Rs 10. For this, information about the record date will be given separately.
This is the sixth bonus issue of Reliance Industries since the company’s IPO, while this is the second issue in this ‘golden decade’. Reliance Industries said that this would be the largest issue of bonus shares in the Indian stock market. A statement issued by the company said, ‘The bonus issue is a proof of Reliance’s continued commitment to reward shareholders during the golden decade 2017 to 2027.’
Reliance Industries issued bonus shares in 2017 in the ratio of 1:1. This was followed by a rights issue in 2020, where shareholders’ investment has already increased 2.5 times. Jio Financial Services was demerged in July 2023 and its value is now 35% higher than at the time of listing.
Reliance Industries had announced to consider bonus issue just before its Annual General Meeting on 29 August. Earlier, the company had issued bonus shares in 1980, 1983, 1997, 2009 and 2017. The purpose of issuing bonus shares by companies is to make their stock reach as many retail investors as possible. Shares of Reliance Industries closed at Rs 2,987.15 on 5 September, with a fall of 1.41 percent i.e. Rs 42.65.
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