Mukesh Ambani's Reliance Doing This After 7 Years! Big Announcement For Shareholders On September 5
What does bonus issue mean? What is the history of RIL's bonus issues? Get all your answers here.
What does bonus issue mean? What is the history of RIL's bonus issues? Get all your answers here.
RIL 1:1 Bonus Shares On September 5
Reliance Bonus Issue Being Announced After 7 Years
Reliance, the nation's most valuable company, had last issued bonus shares in September 2017. Hence this will be the first time in 7 years that the sprawling conglomerate with interests in refining, oil and gas, petrochemicals, telecoms, retail, and media will be announcing bonus issue for its shareholders.
History Of Reliance Bonus Issue
RIL 1:1 Bonus Issue On September 5
"We wish to inform you that pursuant to Regulation 29 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), a meeting of the Board of Directors of the Company is scheduled to be held on Thursday, September 5, 2024 to consider and recommend to the shareholders for their approval, issue of bonus shares in the ratio of 1:1 to the Equity Shareholders of the Company by capitalization of reserves," RIL said in the stock exchange filing.
RIL Last Bonus Issue Announced In 2017
RIL 47th AGM: Major Announcements By Mukesh Ambani
At its 47th Annual General Meeting (AGM) on August 29, RIL Chairman Mukesh Ambani announced up to 100 GB of free cloud storage for Jio users and expects the company to double revenues over 3-4 years, a move that will set the path for a possible demerger and listing in future. Ambani spoke about the AI service platform (Jio Brain), national AI infrastructure (gigawatt-scale AI-ready data centres in Jamnagar), Jio TvOS with voice assistant HelloJio, JioPhoneCall AI, as well as Jio AI-Cloud Welcome offer of up to 100 GB free cloud storage for Jio users.