New Delhi: Reliance Industries, led by Mukesh Ambani, recently approved a 1:1 bonus share issue, calling it an “early Diwali gift” for shareholders. The decision was initially announced during the company’s 47th annual general meeting held in late August.
In a regulatory filing, the company stated, “The Board of Directors of Reliance Industries Limited has approved a bonus share issue in the ratio of 1:1. Shareholders will receive one additional share for every fully paid-up share of Rs 10 that they hold. The record date will be announced soon.”
Although the exact date is yet to be confirmed, historical data suggests the record date could fall in October. Reliance Industries has a history of issuing bonus shares, with previous instances in 1980, 1983, 1997, 2009, and 2017.
In earlier cases, the time between the bonus announcement and the record date typically ranged between 40 to 50 days. Here’s a quick look at past trends:
- In 2017, the announcement was made on July 21, with a record date of September 9.
- In 2009, the announcement came on October 7, with a record date of November 27.
- In 1997, the announcement was made on September 13, and the record date was November 29.
If the same pattern holds, the record date for this latest bonus issue could be set for late October, likely after the 20th. The company, during its annual meeting, described this as the largest-ever bonus share issue in India’s stock market history.
