Reliance Industries, led by Mukesh Ambani, announced that its Board of Directors will meet on September 5, 2024, to consider issuing bonus shares in a 1:1 ratio to equity shareholders. This means that for every share held, shareholders would receive an additional share if the proposal is approved.
The company stated in an exchange filing, “We wish to inform you that pursuant to Regulation 29 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, a meeting of the Board of Directors of the Company is scheduled to be held on Thursday, September 5, 2024, to consider and recommend to the shareholders for their approval, the issue of bonus shares in the ratio of 1:1 to the Equity Shareholders of the Company by capitalization of reserves.”
Following the announcement, Reliance Industries’ stock rose by 2.6%, reaching ₹2,995.75.