On the 40th anniversary of it going public at the AGM in Mumbai on Friday July 21,2017, Reliance Industries Ltd. announced a 1:1 bonus for shareholders — effectively an additional bonus share for every share currently held.
The announcement of bonus shares in the Annual General Meeting on Friday, addressed by Chairman Mukesh Ambani, sent the share price rising. RIL shares rose 3.19% to Rs 1,578 at 12.42 pm in Mumbai trading.
Reliance Industries’ first IPO was in 1977 and since then the company has been credited with creating a ‘culture of the shareholder’ in India. Friday’s announcement of a 1:1 bonus seems aimed at rewarding the company’s shareholders.
Mukesh Ambani in his speech said that an investment of Rs 1,000 in Reliance shares in 1977 would be worth Rs 16.5 lakh today. The company’s market capitalisation is over Rs 5 lakh crore, which makes it India’s largest company by M-cap.
The announcement of bonus shares in the Annual General Meeting on Friday, addressed by Chairman Mukesh Ambani, sent the share price rising. RIL shares rose 3.19% to Rs 1,578 at 12.42 pm in Mumbai trading.
Reliance Industries’ first IPO was in 1977 and since then the company has been credited with creating a ‘culture of the shareholder’ in India. Friday’s announcement of a 1:1 bonus seems aimed at rewarding the company’s shareholders.
Mukesh Ambani in his speech said that an investment of Rs 1,000 in Reliance shares in 1977 would be worth Rs 16.5 lakh today. The company’s market capitalisation is over Rs 5 lakh crore, which makes it India’s largest company by M-cap.
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