The directors board of Indian conglomerate Reliance Industries (RIL) approved the issue of bonus shares in the ratio of 1:1.
The company said this will be the largest-ever issuance of bonus equity shares in the Indian equity market.
“The issuance and listing of bonus shares will coincide with the upcoming festive season in India and will be an early Diwali Gift to all our esteemed shareholders,” RIL said in a media release.
The company said the record date for the bonus issue will be separately announced.
This is the sixth bonus issue from RIL since its IPO and the second in this decade.
In 2017, Reliance had issued bonus shares in the ratio of 1:1, followed by a rights issue in 2020.
RIL also announced the demerger of Jio Financial Services Limited from the company in July 2023, rewarding its shareholders with shares in the demerged company on a 1:1 basis.
Reliance is India’s largest private sector company, with a consolidated revenue of $119.9 billion, cash profit of $17 billion and net profit of $9.5 billion for the year ended March 31, 2024.
The company’s businesses span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail and digital services.
Follow us on
