“The Board of Directors of Reliance Industries Limited (RIL) has today approved the issue of bonus shares in the ratio of 1:1 i.e. each 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 communicated separately,” the company said in a filing to the exchanges.
The Ambani-led company has announced that the date for determining the eligibility of shareholders for the 1:1 bonus issue will be announced later. However, historical data suggests that the record date for RIL bonus shares could be next month. Reliance Industries had previously announced bonus issues in 1980, 1983, 1997, 2009 and 2017.
For previous bonus issues of RIL, the announcement dates and record dates were as follows:
2017: The bonus issue was announced on 21st July with a record date of 9th September
2009: The issue was announced on 7 October with a record date of 27 November
1997: The issue was announced on 13 September with a record date of 29 November.
Based on these past patterns, there is usually a gap of 40-50 days between 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 at RIL’s 47th Annual General Meeting held on August 29.
It was not only another award from the country’s largest company but also the biggest award in the history of the Indian stock market.
“This will be the largest ever issue of bonus equity shares in the Indian equity market. The issue and listing of the 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.
Shares of Reliance Industries on the BSE on Friday fell nearly 2% to Rs. closed at 2,929.85.
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