The board of Reliance Industries has approved the issue of bonus shares in the ratio one each for every share held, it said in an exchange filing. It also approved the increase in the authorised share capital to ₹50,000 crore from ₹15,000 crore now. The paid-up capital will increase to ₹13,532.46 crore from ₹6,766.23 crore at present.
The bonus shares will be issued by capitalising the securities premium, general reserves or retained earnings. As on March 31, 2024, the company’s securities premium account was at ₹99,802 crore, balance in general reserves was ₹2.57 lakh crore while retained earnings was at over ₹1 lakh crore.
The bonus shares will be credited by November 1 this year, the exchange filing said. The record date for determining the eligible shareholders to whom the bonus shares will be issued, will be notified separately, it said.
The company had made the bonus issue announcement on August 29, just prior to its annual general meeting. Since then its shares have fallen about 1.7 per cent, but in 2024, so far its shares have appreciated 15.6 per cent. It hit a 52-week high of ₹3,217.60 on July 8 this year.
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Published on September 5, 2024
https://www.thehindubusinessline.com/companies/ril-approves-1-for-1-bonus-share-issue/article68609593.ece
