Reliance Industries board approves 1:1 bonus issue for shareholders
Mumbai: Reliance Industries Ltd (RIL) on Thursday approved a 1:1 bonus issue, marking its first bonus offering since September 2017. Shareholders will receive one free share for each share held.
As India's most valuable company, Reliance Industries will announce the record date for this bonus issue at a later time.
The company stated in a regulatory filing, "the record date will be intimated separately."
Additionally, the RIL board sanctioned a proposal to increase the company’s authorized share capital from Rs 15,000 crore to Rs 50,000 crore. This marks the fifth time RIL has planned to reward shareholders with bonus shares, following previous offers in 1983, 1997, 2009, and 2017.
Year to date, RIL stock has yielded a 15.3 percent return and gained 23.3 percent over the past year.
At Reliance Industries' 47th annual general meeting, Chairman Mukesh Ambani unveiled a bold vision to transform the conglomerate into a leader in deep-tech and new energy. Ambani detailed his strategy to leverage advanced technologies such as artificial intelligence (AI), 5G, and high-tech manufacturing to propel RIL into a new era of hyper-growth.
He emphasized Reliance Industries' commitment to investing in cutting-edge technologies, including AI, the Internet of Things (IoT), machine learning, and robotics, to establish a world-class manufacturing ecosystem. The company plans to invest up to Rs 75,000 crore in creating the Dhirubhai Ambani Green Energy Giga Manufacturing Complex, which is set to become the largest, most advanced, and integrated facility of its kind globally.
Ambani assured shareholders that this ongoing technology-driven transformation will propel the company into a new phase of rapid growth and significantly enhance its value in the coming years.
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