Mukesh Ambani's BIG move: Reliance investors to get this DIWALI bonanza, know details here

The festival of Diwali is approaching, and both central and state governments are offering a DA (Dearness Allowance) hike to their employees as a festive gift. In this context, India's most valuable company, Reliance Industries Limited (RIL), is not lagging behind. It has also announced the record date for issuing bonus shares (RIL Bonus Share). As a Diwali gift to its investors, Mukesh Ambani’s company has set October 28 as the record date for a free bonus share in the ratio of 1:1.

Reliance Shares to Double

The path has been cleared for Reliance Industries Limited investors to receive bonus shares. On Wednesday, the company announced October 28 as the record date to determine eligible shareholders for the bonus shares. Investors will receive one free share for every existing share they hold. This means that after the issuance of the bonus shares, the number of Reliance shares in their Demat accounts will double.

Announcement Made in September

In the Annual General Meeting (AGM) held in September, Reliance Industries decided to issue bonus shares in the ratio of 1:1 to shareholders. This means that for every share held, one bonus share of RIL will be issued for free. Shareholders who own the company’s shares before the record date will be eligible for the bonus shares.

It's important to understand what bonus shares are. Bonus shares are additional shares issued to existing shareholders at no extra cost, based on the number of shares they already hold. These shares come from the company’s accumulated earnings, which are distributed as free shares instead of dividends.

First Bonus Issue in Seven Years

Reliance Industries has set the face value of each share at ₹10. This means a new equity share with a face value of ₹10 will be issued for each share held. As mentioned, only those investors who buy the shares before the record date will benefit from the bonus issue. This is the first time in seven years that Reliance Industries is issuing bonus shares. The last time the company issued 1:1 bonus shares was in September 2017, and before that, in 2009.

Current Status of RIL Shares

Speaking of Reliance Industries’ share performance, despite a market dip on the previous trading day (Wednesday), Reliance shares closed with gains. After opening at ₹2,680, the stock surged by 1.30%, reaching an intra-day high of ₹2,728. However, by market close, the pace slowed slightly, and the shares ended up 0.79% higher at ₹2,709.40. With a market capitalization of ₹18.32 lakh crore, Reliance remains India’s most valuable company.