Reliance Bonus Share

 

The RIL board is set to consider a 1:1 bonus share issuance on September 5.

On August 29, Reliance Industries Ltd announced that its board will consider and recommend issuing bonus shares at a 1:1 ratio during a meeting on September 5. The company, India's most valuable by market capitalization, made this announcement just before its 47th annual general meeting.

In his address, Mukesh Ambani emphasized the company's commitment to rewarding shareholders amidst strong financial performance and business expansion. Reliance's share price surged nearly 3 percent intraday following the announcement.

The company stated in its stock exchange filing: "A meeting of the Board of Directors is scheduled for Thursday, September 5, 2024, to consider and recommend to the shareholders for their approval, the issue of bonus shares in the ratio of 1:1 by capitalization of reserves."

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