“The Board of Directors of Reliance Industries Limited (RIL) today approved the issue of bonus shares in the ratio of 1:1 i.e. every shareholder holding 1 (one) fully paid-up equity share of Rs. 10/-each on the record date will receive 1 (one) fully paid-up equity share of Rs. 10/- each. The record date will be separately intimated,” said the company in a filing to the exchanges.
The Ambani-led company has announced that the date for determining shareholder eligibility for the 1:1 bonus issue will be revealed later. However, historical data suggests the record date for the RIL bonus shares might be next month. Reliance Industries has previously declared bonus issues in 1980, 1983, 1997, 2009, and 2017.
For RIL’s previous bonus issues, the announcement dates and record dates were as follows:
2017: The bonus issue was announced on July 21 with a record date of September 9
2009: The issue was announced on October 7 with a record date of November 27
1997: The issue was announced on September 13 with a record date of November 29.
Based on these past instances, there is typically a 40-50 day gap between the announcement and record date. If this pattern continues, the record date for the 2024 bonus issue could be after October 20.
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The bonus share issue was announced in RIL’s 47th annual general meeting held on August 29.
It wasn’t just another reward from the country’s largest company but also the biggest-ever in the history of the Indian stock market.
“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,” the exchange filing said.
The shares of Reliance Industries closed nearly 2% lower at Rs 2,929.85 on BSE on Friday.
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