New Delhi: Reliance Industries’ board on Thursday gave its nod for what is expected to be India’s largest share bonus share issue. The 1:1 bonus share issue was indicated by Reliance chairman Mukesh Ambani during the oil-to-retail conglomerate’s annual general meeting.
For each share of RS 10 face value held by investors, they will receive a bonus share of Rs 10 face value, RIL said in an official statement. The RIL bonus share issuance will coincide with the festival of Diwali, the company said. Since its IPO, RIL has announced 6 bonus shares issuances.
Calling 2017-2027 its golden decade, RIL added that today’s announcement was the group’s second share issuance during this period. The previous bonus issuance during this decade was made in 2017, the company added. In 2020, the company announced a shareholders’ rights issue, followed by the 2023 demerger of Jio Financial Services from RIL.
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Reliance announced an early Diwali gift for investors by announcing India’s largest bonus share issuance on Thursday. Check details here Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
