look news india
Reliance Industries Limited: Mukesh Ambani-led Reliance Industries has announced a 1:1 bonus issue. That is, one share for one. This proposal was approved in the company's board meeting on Thursday. These shareholders will be given one free share for every share. These bonus shares will also be given to Mukesh Ambani and his family members. With this, the total outstanding shares of the company will double to Rs. 1,353.24 crore.
- Reliance board approves issue of one bonus share each
- This is the first time in seven years that Reliance Industries will issue bonus shares
- RIL chief Mukesh Ambani will get 80,52,020 bonus shares
The board of Mukesh Ambani's company Reliance Industries (RIL) on Thursday approved the issuance of one bonus share for every share. This is the first time in seven years that the company will issue bonus shares. Reliance is the most valuable company in the country in terms of market capitalization. Earlier, the company had announced bonus shares in September 2017. Similarly, 1:1 bonus shares were announced in 2009. The record date for the announcement of bonus shares will be notified separately. The company informed the stock exchange about the proposal on August 29.
How many bonus shares will Mukesh Ambani and his family get?
Mukesh Ambani holds 0.12% stake in Reliance Industries, which is equivalent to 80,52,020 shares. His wife Nita Ambani also holds the same number of shares. His three children Isha, Akash and Anant Ambani also have equal stake in the company.
Giving bonus shares in the ratio of 1:1 means that Mukesh Ambani will get 80,52,020 bonus shares. Thus, after issuing bonus shares, he will have a total of 1,61,04,040 shares. However, there will be no change in his shareholding. Similarly, Nita Ambani will also get 80,52,020 bonus shares. She will have a total of 1,61,04,040 shares. Isha, Akash and Anant Ambani will also get equal number of bonus shares.
Reliance Industries Bonus History
According to Trendline data, Reliance Industries currently has 6,76,62,29,009 or 676.62 crore shares outstanding. After the bonus shares are issued, this number will double to Rs. 1,353.24 crore.
This is the third bonus issue of Reliance Industries after the approval of the board. Earlier in 2017, Reliance had issued bonus shares in the ratio of 1:1. Earlier in 2009 also, the company had given bonus shares in the same ratio.