New Delhi: Reliance Industries, led by Mukesh Ambani, has approved a 1:1 bonus share issue, calling it an “early Diwali gift” for shareholders. This decision was first announced during the company’s 47th annual general meeting in late August.
In a filing to the stock exchanges, the company said, "The Board of Directors of Reliance Industries Limited has approved the issue of bonus shares in a 1:1 ratio. For every shareholding 1 fully paid-up share worth Rs 10, shareholders will receive 1 additional share of the same value. The record date will be announced later."
Although the company has yet to confirm the exact date, historical data hints that the record date for determining shareholder eligibility may fall next month. Reliance Industries has issued bonus shares several times before — in 1980, 1983, 1997, 2009, and 2017.
For its previous bonus issues, the time between the announcement and the record date typically ranged between 40-50 days. Let's take a look at the earlier history:
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– In 2017, the announcement was made on July 21, with a record date of September 9.
– In 2009, the announcement was on October 7, with a record date of November 27.
– In 1997, the announcement was made on September 13, with a record date of November 29.
If this trend continues, the record date for the latest bonus issue could be after October 20. This major announcement was made during Reliance Industries’ 47th annual general meeting on August 29. The company described it as the largest-ever bonus issue in the history of the Indian stock market.
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