Lagatar24 Desk
Mumbai: Reliance Industries Limited (RIL) is expected to announce the record date for its highly anticipated 1:1 bonus share issue during a board meeting on October 14, 2024. This bonus issue was approved at the company’s annual general meeting (AGM) in September and is being hailed as an “early Diwali gift” for investors, according to media reports.
Under the approved bonus plan, shareholders holding one fully paid-up equity share of ₹10 will receive an additional share of the same value. The official record date, which is key for determining shareholder eligibility, is likely to be finalized tomorrow.
In addition to confirming the bonus issue date, RIL’s board will also review and approve the company’s standalone and consolidated financial results for the quarter and half-year ending September 30, 2024.
RIL to Approve Key Dates on October 14
RIL stated in an exchange filing, “…the Board of Directors of the Company is scheduled to be held on Monday, October 14, 2024, inter alia, to consider and approve the standalone and consolidated unaudited financial results of the Company for the quarter and half year ended September 30, 2024.”
The trading window for RIL securities, in compliance with SEBI guidelines, has been closed since October 1, 2024, and will reopen 48 hours after the financial results are made public.
RIL’s Track Record of Investor Rewards
This bonus issue will mark the sixth time RIL has rewarded shareholders with bonus shares since its initial public offering (IPO). It is also the second bonus issue of the current decade, reinforcing the company’s commitment to its “Golden Decade” strategy from 2017 to 2027, aimed at maximizing shareholder value.
The last bonus issuance by RIL occurred in 2017, in a similar 1:1 ratio. RIL further boosted shareholder value with a major Rights Issue in 2020. More recently, in July 2023, RIL successfully demerged Jio Financial Services, with the spin-off’s valuation soaring 35% higher than its listing price.
