Reliance Bonus issue 2024: RIL may announce bonus share record date tomorrow – reports | Stock Market News

Reliance Bonus issue 2024: RIL may announce bonus share record date tomorrow – reports | Stock Market News

Source: Live Mint

Reliance Industries Limited (RIL) announced that its Board of Directors had approved a 1:1 bonus share issue during its annual general meeting (AGM) in September this year. This means shareholders holding one fully paid-up equity share of 10 each will receive an additional share of the same value.

The bonus issuance is expected to be the largest of its kind in India’s stock market, coinciding with the festive season, which RIL has dubbed as an “early Diwali gift” to investors, as per various media reports. However, the company has not yet disclosed the official record date for the bonus share distribution.

Key date announcement expected October 14

The Board is expected to finalize the record date for the bonus issue during its meeting on October 14, 2024, as per various media reports. On the same day, the company will also review and approve its standalone and consolidated unaudited financial results for the quarter and half-year ending September 30, 2024.

In an exchange filing, the company stated,“…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.”

Trading window closure in line with SEBI guidelines

As per SEBI regulations, RIL’s trading window for dealing in securities closed on October 1, 2024, and will remain shut until 48 hours after the financial results are made public.

This marks the sixth bonus issue by RIL since its initial public offering (IPO) and the second within the current decade. The company highlighted in its filings that these measures reflect its consistent strategy to reward shareholders as part of its “Golden Decade” from 2017 to 2027.

In 2017, RIL also issued bonus shares in a 1:1 ratio, followed by a landmark Rights Issue in 2020, which increased shareholder investments by 2.5 times. recently, in July 2023, Jio Financial Services Limited was demerged from Reliance, with the spin-off now valued 35% higher than its listing price.



Read Full Article

Leave a Reply

Your email address will not be published. Required fields are marked *