Mukesh Ambani’s Reliance Industries Limited (RIL) shares increased 1.1% to Rs 2,738.70 during intraday trading on Thursday after it was announced that October 28, 2024, would be the record date for identifying shareholders who qualify to get 1:1 bonus shares.
Late on Wednesday, the company announced that its bonus issue had been approved by shareholders, who voted 99.92% in favor of the resolution and only 0.07% against it. RIL also declared that shareholders approved an increase in its authorized share capital. 1.04% of votes were cast against this resolution, which received 98.96%.
Three of the five bonus share issues RIL has ever had are from 1980 to 1983 when the first was a 3:5 bonus issue. In 1997, 2009, and 2017, the final three bonus issues happened at a 1:1 ratio, respectively.
Reliance Industries has an authorized share capital of Rs 50,000 crore as of right now. This is made up of 100 crore preference shares and 4,900 crore equity shares, each worth Rs 10.
The business has previously reported the issuance of bonus shares in a 1:1 ratio during the 28th annual general meeting (AGM). “We are in the business of creating wealth for India and enhancing the quality of life of every Indian, every single day,” Reliance’s CEO Mukesh Ambani said during the AGM, underlining that as the company expands, shareholders benefit greatly.
