Reliance Industries has announced that its Board of Directors will meet on Thursday, September 5, 2024, to consider and recommend the issuance of bonus shares in a ratio of 1:1 to equity shareholders. This decision is in accordance with Regulation 29 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The proposed bonus share issue will be funded through the capitalization of reserves, reflecting the company’s commitment to rewarding its shareholders. Following the announcement, Reliance’s shares have already seen a positive response, soaring over 2.25% in trading.
This marks the first bonus issue by Reliance since 2017, when it declared a similar 1:1 bonus. Investors are optimistic about this move, which is expected to enhance liquidity and broaden the shareholder base, further solidifying Reliance’s position in the market.
