Reliance Industries and its 1:1 Bonus Stock Issue: A Game-Changer for Shareholders
Thursday, 29 August 2024, 18:21
Reliance Industries' Strategic Initiative
In an exciting development for investors, Reliance Industries, led by Mukesh Ambani, has announced plans for a 1:1 bonus stock issue. This initiative, aimed to benefit shareholders, comes after the company's impressive financial performance that saw it achieve a record net profit of Rs 79,020 crore in FY24.
Details of the Bonus Stock Issue
- The upcoming board meeting on September 5 will officially consider this bonus share issuance.
- This marks the sixth time Reliance Industries has issued bonus shares since being listed in 1977.
- Previously, the company issued a similar bonus share ratio in 2017 to celebrate its 40th anniversary post-IPO.
This move showcases Reliance's commitment to enhancing shareholder value as it intensifies its growth strategy across various businesses.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.