1:1 Bonus Shares For Reliance Shareholders: Decision Awaits Board’s Approval
Reliance Industries Limited has sent a notice to the stock exchanges that the Board of Directors will meet on 5th September to consider issuing Bonus shares in the ratio of 1:1 for its investors. This announcement was made by Reliance Industries Limited chairman Mukesh Ambani while addressing the shareholders during the 47th Annual General Meeting.
He said Reliance founder Dhirubhai Ambani firmly believed that the shareholders are the backbone of the Group and they deserve a substantial reward from time to time as your company grows from strength to strength.
“I have supreme confidence in the robust performance and bright future growth prospects of all our businesses. Based on this confidence, I would like to share some good news with you today,” he informed.
“When Reliance grows, we reward our shareholders handsomely. And when our shareholders are rewarded handsomely, Reliance grows faster and creates more value. This virtuous cycle has been the guarantor of your company’s perpetual progress,” Mukesh Ambani said in his address.
Mr Ambani has also congratulated prime minister Narendra Modi for winning a third consecutive term. “The 2024 parliamentary elections have produced a resounding victory for stability, continuity and above all, India’s vibrant democracy. This has enhanced India’s reputation globally, and it augurs well for the growth prospects of our economy…,” he added.
Mukesh Ambani expressed confidence in India’s future, stating that despite global uncertainties, the country is steadily progressing towards the goal of Viksit Bharat in Amrit Kaal. He emphasised India’s unique strengths, including its favourable demographics and lighter debt burdens, which position it as a major growth engine globally.
Ambani highlighted that India is not merely a participant in the global economic landscape but a key driver of growth. He cited IMF projections, noting that by 2027, India is expected to become the world’s third-largest economy, surpassing Japan and Germany, and that this achievement would be a fitting celebration of the country’s 80th independence anniversary. He further stated that even amid global volatility, India stands as a beacon of hope, with its rich cultural heritage, empowered population, growing economic influence, and commitment to peace, poised to play a transformative role in the world.
