Reliance Industries announces an important update from its board.
RIL's board has approved a 1:1 bonus share issue, granting shareholders 1 additional share for every 1 they hold.
The bonus shares will be issued from RIL’s securities premium, general reserves, and retained earnings as of March 31, 2024.
With the 1:1 bonus issue, shareholders will see their number of shares double without changing the overall value of their holdings.
This bonus issue is seen as a strategic move to reward shareholders, reflecting RIL’s strong financial position and future growth plans.
Issuing bonus shares will increase RIL’s share capital, though the company’s overall valuation remains unchanged.