Key Points
- RIL will issue bonus shares in a 1:1 ratio on October 28, 2024.
- Shareholders overwhelmingly supported the bonus share proposal (99.92% votes in favor).
- RIL’s authorized share capital will increase from Rs 15,000 crore to Rs 50,000 crore.
- Bonus shares are issued from retained earnings and premium accounts.
- This is RIL’s sixth bonus share issue, following previous 1:1 ratios in 1997, 2009, and 2017.
Looma News
Exciting news from Reliance Industries Limited (RIL). They’ve just announced that October 28, 2024, is the big day for their 1:1 bonus share issue. What does that mean for you? For every share you own, you’ll get an extra one! So, if you’ve got 1,000 shares, you’ll be sitting pretty with 2,000.
This move got a massive thumbs up from shareholders, with a whopping 99.92% voting in favor. It’s clear everyone’s feeling good about RIL’s future. Plus, they’re boosting their authorized share capital from Rs 15,000 crore to an impressive Rs 50,000 crore, giving them more space to expand.
Mukesh Ambani, the guy running the show, is all about creating wealth and improving life for every Indian. This bonus share issue is just one way they’re showing they care about their investors. The shares will come from retained earnings and reserves, proving they’re on solid financial ground.
The Bigger Picture
Just a heads up, while bonus shares might not change the total value of your investment right away (share prices usually adjust), they do make it easier for more investors to get involved. This strategy has worked for RIL in the past, with previous bonus issues in 1997, 2009, and 2017 all going the same way.
Amit Goel, Co-Founder and Chief Global Strategist at Pace 360, noted that this isn’t just a nice perk; it’s a solid sign of RIL’s financial health and commitment to rewarding shareholders. So if you’re an RIL investor, get ready for some extra shares and keep an eye on the growth potential ahead.
