Reliance board approves issue of bonus shares
Today, a big good news came for more than 35 lakh shareholders of Reliance Industries Limited. The company’s board of directors on Thursday approved the issuance of one bonus share for every share held. Let us tell you that this will be the first time in seven years that the company will give bonus shares to its shareholders. Reliance, the country’s largest company in terms of market cap, had earlier issued bonus shares to its shareholders in September 2017.
Bonus shares will be issued in the ratio of 1:1
The company said in a notice given to the stock market exchanges BSE and NSE on Thursday that the Board of Directors of Reliance Industries has recommended to approve the issuance of bonus shares to shareholders in the ratio of 1: 1. The company said in an exchange filing that shareholders will be given one bonus share with a face value of Rs 10 for every share with a face value of Rs 10. The company said that the record date for bonus shares will be announced later, which will be informed separately.
Bonus shares were also issued in the ratio of 1:1 in 2017 and 2009
Let us tell you that Reliance Industries had issued bonus shares to shareholders in the ratio of 1:1 in 2017. Earlier, the company had issued bonus shares to its shareholders in the ratio of 1:1 in the year 2009. Apart from this, the board of directors of the company has also sought approval from the shareholders to increase the authorized share capital of the company from Rs 15,000 crore to Rs 50,000 crore.
The company’s shares fell on Friday
Let us tell you that on Thursday, the shares of Mukesh Ambani-led Reliance Industries closed at Rs 2987.15 on the BSE with a decline of Rs 42.65 (1.41%). The current market cap of the company is Rs 20,21,050.54 crore. Let us tell you that the market cap of any Indian company is not more than the market cap of Reliance Industries.
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