Reliance board approves 1:1 bonus issue

 THE BOARD of Reliance Industries Ltd on Thursday approved issuing 1:1 bonus shares — the first bonus issue in seven years.

The Mukesh Ambani-promoted company had last issued bonus shares in September 2017.

In a regulatory filing, the nation’s most valuable company said its board recommended to shareholders for their approval “issue of bonus shares in the ratio of 1:1 ie 1 (one) new fully paid-up equity share of Rs 10 each for every 1 (one) existing full paid-up equity share”.

The record date for such issuances will be intimated separately, it said.

Prior to the 1:1 bonus issue in 2017, Reliance had in 2009 issued 1:1 bonus share.

The company board also approved and sought shareholder nod for increase in authorised share capital of the company from ₹150 billion (£1.36bn)to ₹500bn (£4.52bn).

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