Shares of Reliance Industries Limited (RIL), owned by Mukesh Ambani, rose by 1.1% to Rs 2,738.70 in intraday trading on Thursday following the announcement of October 28, 2024, as the record date for determining shareholders eligible for the issuance of 1:1 bonus shares.
Overwhelming Shareholder Approval
The company received approval for the bonus issue from shareholders late Wednesday, with an overwhelming 99.92% of votes cast in favor of the resolution and only 0.07% against it.
Additionally, RIL announced that shareholders approved an increase in its authorized share capital. This resolution garnered 98.96% support, while 1.04% of votes were against it.
Historical Bonus Share Issuance
Historically, RIL has issued bonus shares five times, starting with a 3:5 bonus issue in 1980 and a 6:10 issue in 1983. The last three bonus issues occurred in 1997, 2009, and 2017, each at a 1:1 ratio.
Authorized Share Capital Details
Currently, the authorized share capital of Reliance Industries is Rs 50,000 crore, consisting of 4,900 crore equity shares of Rs 10 each and 100 crore preference shares of Rs 10 each.
Ambani’s Commitment to Shareholders
During the 28th annual general meeting (AGM), the company had previously disclosed the issuance of bonus shares in a 1:1 ratio. Mukesh Ambani stated at the AGM, “We are in the business of creating wealth for India and enhancing the quality of life of every Indian, every single day,” emphasizing that when Reliance grows, shareholders are rewarded handsomely.
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