Reliance Industries Ltd. has announced that its board approved a 1:1 bonus share issue on Thursday, September 5. This means shareholders will receive one additional share for every share they currently hold. The record date for this bonus issue will be announced later.
The board has also approved an increase in authorised share capital from ₹15,000 crore to ₹50,000 crore.
This is the sixth time Reliance Industries has issued bonus shares, following previous instances in 1980, 1983, 1997, 2009, and 2017.
As of 3:25 pm, the company’s shares were trading 1.20% lower at ₹2,992.60 on NSE.