• Source:JND
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Reliance Bonus Share: Reliance Industries Ltd declared on Thursday that its board would gather on September 5, 2024, to think about issuing bonus shares in the proportion of 1:1 with the equity shareholders of the company.

Earlier, the RIL issued the 1:1 bonus share in 2017 and 1:1 bonus shares in 2009.

RIL said in a stock exchange filing on August 29 that the company's board of directors will meet on Thursday, September 5, 2024, to consider and recommend to shareholders for their approval, the issuance of bonus shares in the ratio of 1:1 to the company's equity shareholders by the capitalization of reserves.

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A bonus issue, also known as a bonus share issue, is when an organization distributes additional shares at no charge to its current shareholders depending on the number of shares they have. This is typically done in proportion to the shareholder’s present shares, such as a 1:1 proportion where one additional share is provided for every share held.

The move will improve the liquidity of RIL shares in the stock market, making it accessible to a wider base of investors. The bonus issue will be the first since 2017 when the Oil to Chemical Union issued bonus shares in a 1:1 proportion.

Reliance Industries shares were up 2.4 percent at Rs 3,068 each at 2 p.m. on August
RIL's declaration comes ahead of its 47th Annual General Meeting on August 29. Reliance Industries Ltd has a market valuation of more than Rs 20 lakh crore.

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