Sources from Reliance Industries yesterday announced that every shareholder of Reliance Industries will now get a bonus share for every one share held by them. This was announced by Chairman Mukesh Ambani at the company's 40th AGM held yesterday at Birla Matushri Sabhagar in Mumbai. This is the largest bonus issue, ever, in India.
Ambani said, "On such an occasion and in keeping with our founder to share prosperity with all shareholders, the Board of Directors has decided to recommend a bonus issue in the ratio of 1:1".
Reliance Industries has generated significant shareholder wealth in the past 40 years. Rs 1000 invested in Reliance Industries shares in 1977 is Rs 16.55 lakh today, Mr. Ambani said, adding that shareholder's wealth doubled effectively in every two and a half years.
Meanwhile, Reliance Industries shares ended 3.76% higher at Rs 1,586.20. RIL shares have outperformed the broader indices so far this year by surging nearly 47% compared to 21% gain in the broader Nifty.
