Mumbai: Reliance Industries Ltd on August 29 said it will consider and recommend issuing bonus shares at a ratio of 1:1 to its shareholders at a board meeting on September 5.

India’s most valuable company, in terms of market capitalisation, informed the shareholders about the decision minutes before the 47th annual general meeting of the conglomerate.

In his address to the shareholders, Mukesh Ambani spoke about rewarding shareholders amid strong financial performance and expansion of business.

“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,” the firm said in the stock exchange filing.

This will be the fifth time the index heavyweight has announced to reward shareholders with bonus share, if approved in the board meeting on September 5. Here’s the history of the company’s bonus and rights issue.

Reliance bonus share history

Reliance rights history

Reliance Industries share price climbed nearly 3 percent intraday shortly after the company announced that the its board will consider issuing 1:1 bonus shares on September 5.

Shares of the firm jumped 2.63 percent to Rs 3,074.80 on the BSE as soon as the announcement came in. At the NSE, the bellwether stock climbed 2.58 per cent to Rs 3,074. The company’s market valuation also surged Rs 42,399.24 crore to Rs 20,60,461.42 crore