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There is a great news for more than 35 lakh shareholders of Reliance Industries Limited today. The board of directors of the company on Thursday approved the issuance of one bonus share for every share held. It is worth noting that this will be the first time in seven years that the company will give bonus to its shareholders. Reliance, the country's largest company in terms of market cap, had earlier given bonus shares to its shareholders in September 2017.
Bonus shares will be issued in the ratio of 1:1
The board of directors of Reliance Industries has recommended to allow the issuance of bonus shares in the ratio of 1:1 to shareholders, the company said in a filing to stock market exchanges BSE and NSE on Thursday. Shareholders will get Rs. 10 for every share of face value of Rs. 10. One bonus share of face value of Rs 10 will be issued, the company said in the exchange filing. The record date for bonus shares will be announced later, which will be disclosed separately, the company said.
Bonus shares were also issued in the ratio of 1:1 in 2017 and 2009.
Let us tell you that in the year 2017, Reliance Industries had issued bonus shares to shareholders in the ratio of 1:1. Earlier in the year 2009, the company had issued bonus shares to its shareholders in the ratio of 1:1. Apart from this, the board of directors of the company has fixed the authorized share capital of the company at Rs 1,000 crore. Approval has also been sought from the shareholders for Rs 15,000 crore and Rs 50,000 crore.
The company's shares fell on Friday
Importantly, on Thursday, Reliance Industries shares closed at Rs 2987.15 on BAE, down by Rs 42.65 or 1.41 per cent. The current market cap of the company is Rs 20,21,050.54 crore. Importantly, the market cap of any Indian company is not more than the market cap of Reliance Industries.