During the recent Annual General Meeting, India’s prominent businessman Mukesh Ambani announced the gift of bonus shares to Reliance Industries shareholders. According to the announcement, the company will issue one bonus share for every share held.
Mukesh Ambani’s announcement will benefit around 3.7 million shareholders and ensure a better Diwali this year. The company’s approval for a 1:1 bonus share issue was heavily appreciated, with 99.92% of shareholders voting in favour.
The record date for shareholders eligible for bonuses was October 28, 2024. Only the shareholders whose names are in the company’s records as of this date will receive bonus shares.
This bonus issue by Reliance Industries is the largest distribution of bonus equity shares in the Indian equity market. The company stated in its exchange filing, “The issuance and listing of bonus shares coincide with the festive season and serve as an early Diwali gift to our valued shareholders.”
The last time was in 2007, when Reliance Industries, one of the best Indian Multinational companies, issued bonus shares, offering bonus shares for each share held at that time. This bonus share distribution marks RIL’s sixth bonus issue since its IPO.
