Reliance Industries, led by Mukesh Ambani, has approved a 1:1 bonus share issue, calling it an “early Diwali gift” for its shareholders.
This announcement was made during the company’s 47th annual general meeting held in late August.
In its statement to the stock exchanges, Reliance Industries said, “The Board of Directors has approved the issuance of bonus shares in a 1:1 ratio.
For every fully paid-up share worth Rs 10, shareholders will receive one additional share of the same value.”
The company has not yet revealed the exact record date for shareholder eligibility but promised to announce it soon.
Previous Bonus Share History
Reliance Industries has a history of issuing bonus shares, with similar actions taken in 1980, 1983, 1997, 2009, and 2017.
Based on past trends, the time between the bonus announcement and the record date usually falls between 40-50 days. Here are some past examples:
1) In 2017, the announcement was on July 21, with the record date set for September 9.
2) In 2009, the announcement was on October 7, and the record date was November 27.
3) In 1997, the announcement was made on September 13, with the record date falling on November 29.
If this pattern continues, the record date for this bonus share issue could be after October 20.
The company described this latest bonus issue as the largest ever in the Indian stock market.
