Reliance board okays 1:1 bonus

New Delhi: The board of Reliance Industries Ltd (RIL) on Thursday approved issuing 1:1 bonus shares -- the first bonus issue in seven years. Reliance, the nation’s most valuable company, had last issued bonus shares in September 2017. In a regulatory filing, the company said its board recommended to shareholders for their approval “issue of bonus shares in the ratio of 1:1 i.e. 1 new fully paid-up equity share of Rs10 each for every 1 existing full paid-up equity share”.

The record date for such issuances will be intimated separately, it said. Prior to the 1:1 bonus issue in 2017, Reliance had in 2009 issued 1:1 bonus share.