Reliance Industries which is led by Mukesh Ambani, has approved a one-for-one issue of bonus shares. Now, a Reliance shareholder will get one more share absolutely free. The company has also recommended an increase in authorised share capital from Rs 15,000 crore to Rs 50,000 crore.
Reliance is India's most valuable company with a market cap of Rs 20.20 lakh crore, as of September 5. It has been issuing bonus shares earlier as well. The company also issued bonus shares in 1980, 1983, 1997, 2009, and 2017. On August 29, Reliance Industries had said that it is considering giving bonus shares and a decision will be taken on this in the board meeting to be held on September 5.
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