RIL bonus issue: Board approves bonus issue in 1:1 ratio; shares down over 1%

The board has also approved the increase in the authorised share capital of the company from ₹15,000 crore to ₹50,000 crore.

The record date will be intimated separately, it said.

Shares of the company after the bonus announcement settled at ₹ 2,987.15 apiece on the BSE, down 1.41%.

As per reports, Reliance Industries (RIL) has given bonus shares five times in the past, beginning with a 3:5 bonus issue in 1980 and 6:10 in 1983. The last three bonus issues in 1997, 2009, and 2017 have been in the ratio of 1:1.

In a separate announcement, the Ministry of Heavy Industries announced on Wednesday, September 4, that Reliance Industries (RIL) has been granted approval to set up a battery manufacturing facility for up to 10 GW under the ₹3,620 crore production linked incentives (PLI) scheme for ACC Battery Storage.

This initiative is another step towards enhancing domestic manufacturing capacity, reducing import dependence, and positioning India as a global leader in ACC battery manufacturing, the ministry said in its press release.

Reliance Industries (RIL) recently hosted its 47th annual general meeting (AGM) for its shareholders, wherein Chairman Mukesh Ambani said the oil-to-telecom conglomerate was not in the business of making short-term profit and hoarding wealth and instead focused on wealth creation for the nation.

Painting a rosy picture of the country's economy, Ambani said India is one of the biggest growth engines in the world and no longer just a carriage.

Reliance, Ambani said, has now become a net producer of technology and is transforming into a deep-tech company with advanced manufacturing capabilities in three seminal ways: embedding innovative technologies in every single business, incubating several critical technological innovations in-house to enhance product and service offerings, and building an AI-native digital infrastructure for all Reliance businesses.