Reliance Industries Announces 1:1 Bonus Share Issue for the First Time in Seven Years

A big good news came today for more than 35 lakh shareholders of Reliance Industries Limited. The company's Board of Directors on Thursday approved the issuance of one bonus share for every share. This will be the first time in seven years that the company will give bonus shares to its shareholders. Reliance, the country's largest company in terms of market cap, had earlier issued bonus shares to its shareholders in September 2017.

The company informed the stock market exchanges BSE and NSE on Thursday that the Board of Directors of Reliance Industries has recommended approval to issue bonus shares to shareholders in the ratio of 1:1. The company said in an exchange filing that shareholders will be given one bonus share with a face value of Rs 10 for every share with a face value of Rs 10. The company said that the record date for the bonus shares will be announced later, which will be informed separately.

Reliance Industries issued bonus shares to shareholders in a ratio of 1:1 in 2017. Earlier, the company had issued bonus shares to its shareholders in the ratio of 1:1 in the year 2009. Apart from this, the board of directors of the company has also sought approval from the shareholders to increase the authorized share capital of the company from Rs 15,000 crore to Rs 50,000 crore.

On Thursday, shares of Mukesh Ambani-led Reliance Industries closed at Rs 2987.15 on the BSE, down by Rs 42.65 (1.41%). The current market cap of the company is Rs 20,21,050.54 crore. Let us tell you that the market cap of any Indian company is not more than the market cap of Reliance Industries.