Reliance Industries Announces Major 1:1 Bonus Shares Issuance

Reliance Industries has approved a 1:1 bonus shares issuance, its largest in seven years. The board also recommended increasing the authorized share capital to Rs 50,000 crore. This marks the sixth bonus issue since the company's IPO, reinforcing its commitment to rewarding shareholders.

Reliance Industries announced on Thursday that its board has approved the issuance of one free share for every share held, marking India's largest ever bonus equity shares issuance.

This 1:1 bonus issue is the first in seven years by India's most valuable company. The company's board has also recommended increasing authorized share capital to Rs 50,000 crore from Rs 15,000 crore.

This marks the oil-to-telecom-and-retail conglomerate's sixth bonus issue since its listing. Reliance has consistently rewarded its shareholders, with previous bonus issues in 1980-81, 1983-84, 1997-98, 2009-10, and 2017-18.

(With inputs from agencies.)