Mukesh Ambani's Reliance Industries is all set to surprise its shareholders with a grand gift on October 14, by announcing the record date for a phenomenal 1:1 bonus share during its board meeting. This will likely be finalized before Diwali. At the Annual General Meeting (AGM) held in September, RIL decided to issue a 1:1 bonus share, meaning for each share held, investors will receive one bonus share from RIL for free.
Reliance Industries' bonus share is poised to be the largest offer on India's stock market. Though the exact record date remains undisclosed, tomorrow may bring clarity. If the announcement is made, expect a surge of activity in Reliance's shares, which closed mildly up at 2,749 INR on Friday.
Your Investment Doubles
When Reliance Industries deposits these bonus shares into your Demat account, the number of Reliance shares you own will double. So, if you've purchased Reliance Industries shares at the current price of 2,749 INR, your holdings will multiply following this bonus issue. This discussion is highly anticipated because on October 14, 2024, the board of directors will convene.
On September 5, Reliance's board approved a 1:1 bonus share issuance. This means for every single share, investors receive an additional one free of charge.
Bonus Shares Issued After 7 Years
The face value of Reliance Industries shares is set at 10 INR per share. This implies a new equity share with a 10 INR face value will be granted. Only those who purchase shares up until the record date can benefit from the bonus shares. The last time Reliance issued bonus shares was September 2017, and before that in 2009.
One More Major Announcement
On October 14, alongside the board meeting, Reliance Industries will also announce its Q2FY25 results. As per exchange filings, the board is expected to approve standalone and consolidated unaudited financial results for the quarter and half-year ended September 30, 2024.
