Reliance Industries Approves 1:1 Bonus Share Issue After Seven Years

Reliance Industries Ltd's board approved a 1:1 bonus share issue for the first time in seven years. The decision, which will increase the company's authorized share capital from Rs 15,000 crore to Rs 50,000 crore, awaits shareholder approval. The record date will be announced separately.

The board of Reliance Industries Ltd on Thursday gave the green light for issuing 1:1 bonus shares -- a move marking their first bonus issue in seven years.

Reliance, recognized as the nation's most valuable company, last issued bonus shares back in September 2017. According to a regulatory filing, the board has recommended shareholders approve the issuance of one new fully paid-up equity share of Rs 10 each for every existing fully paid-up equity share.

The precise record date for this issuance will be communicated separately. Notably, Reliance had also issued 1:1 bonus shares in 2009. Additionally, the board has sought shareholder approval to escalate the company's authorized share capital from Rs 15,000 crore to Rs 50,000 crore.

(With inputs from agencies.)