Reliance sets 28 October as record date for 1:1 bonus issue

Reliance Industries Ltd (RIL) has finalised the record date for its 1:1 bonus share issue as 28 October 2024 after it received necessary approval from shareholders for the bonus issue.

Reliance Industries shareholders also on Wednesday (16 October 2024) approved an increase in authorised share capital of the company. 

The two resolutions were approved via e-voting on 15 October.

The sixth bonus issue by Reliance Industries since its market debut and the second in the past 10 years, the issue will see about 3.5 million RIL shareholders double their share holdings.

The value of RIL shares will decline with the doubling of the number of shares with the public. RIL’s market capitalisation will also reman unchanged unless market reacts positively or negatively. 

Since the record date for the bonus issue has been fixed as 28 October 2024, investors should be holding the shares at least one day before the record date to be eligible for the bonus issue. 

Considering the T+1 settlement cycle, investors must purchase RIL shares latest by 25 October, so that these will be transferred to their names before 27 October.

RIL, in a newspaper advertisement, last month, has also asked holders of partly paid-up equity shares to make due payments to avoid forfeiture.

RIL, meanwhile, has informed has communicated via a newspaper advertisement dated Sept. 23, to holders of partly paid-up equity shares about the necessity of making due payments to avoid forfeiture. 

Settlement of dues will make shareholders eligible not only for the bonus shares but also for equity shares of Jio Financial Services Ltd.