RELIANCE BONUS ISSUE ANNOUNCED: RIL BOARD APPROVES 1:1 ISSUE OF FREE SHARES; HERE'S WHAT SHAREHOLDERS MUST KNOW

Reliance bonus issue: Billionaire Mukesh Ambani-led Reliance Industries board approved the bonus issue in the ratio 1:1 on Thursday, September 5, which was announced during the oil-to-telecom conglomerate's 47th annual general meeting (AGM) late in August. The board also approved and increase in authorised share capital from ₹15,000 crore to ₹50,000 crore.

This marks Reliance's sixth bonus issue and the first since 2017. Shares of India's largest company by market capitalisation have outperformed the Indian stock market benchmarks, Sensex and Nifty 50, year-to-date (YTD). Till September 4 close, Reliance share price has gained 17 per cent on the BSE this year against a 16 per cent gain in the Nifty 50 and 14 per cent gain in Sensex.

Reliance Industries said in a regulatory filing to the stock exchanges, "The Board of Directors of the Company, at its meeting held today, have:

a. Approved forfeiture of partly paid-up equity shares of the Company on which call money (First Call or Second and Final Call or both), remains unpaid. The forfeiture will be effected in case the payment of call money is not made on or before September 20, 2024.

b. Recommended to the shareholders for their approval, through postal ballot:

i. issue of bonus shares in the ratio of 1:1 i.e. 1 (one) new fully paid-up equity share of ₹10/- (Rupees Ten Only) each for every 1 (one) existing fully paid-up equity share of ₹10/- (Rupees Ten Only) each, to the eligible equity shareholders of the Company as on the record date, by capitalization of securities premium received in cash and / or general reserve and / or retained earnings;

ii. increase in the Authorised Share Capital of the Company from Rs. 15,000 crore to Rs. 50,000 crore.

The record date will be intimated separately."

    

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2024-09-05T12:20:43Z dg43tfdfdgfd