Bengaluru: Reliance Industries will consider a bonus share issue for shareholders at a board meeting on Sept. 5, it said on Thursday.
The announcement of the bonus issue at a 1:1 ratio was made minutes before the company’s annual general meeting, where Chairman Mukesh Ambani is set to address shareholders.
The bonus issue will be the first since 2017, when the oil-to-chemicals conglomerate issued bonus shares at a 1:1 ratio.
The company’s share price rose as much as 2.5% to 3,072.6 rupees ($36.63) after Thursday’s announcement.
(Reporting by Indranil Sarkar and Varun Hebbalalu in Bengaluru; editing by Jason Neely)
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