RIL to Consider 1:1 Bonus Shares on September 5
Reliance Industries Ltd (RIL) announced in a regulatory filing on August 29 that its board will consider issuing 1:1 bonus shares on September 5. This will be the first bonus share announcement in seven years, with the last occurring in September 2017. The 1:1 bonus issue means that shareholders will receive one additional share for each share they currently own. RIL has previously issued bonus shares in 1980, 1983, 1997, 2009, and 2017. The upcoming board meeting on September 5, 2024, will seek shareholder approval for this bonus issue by capitalizing reserves, as per the company’s filing.

Previous Bonus Issue in 2017
Before the 2017 bonus issue, RIL had issued a 1:1 bonus share in 2009. In July 2018, RIL crossed a market valuation of USD 100 billion, and over the following six years, it became the first Indian company to surpass a USD 250 billion market value.

Key Announcements at RIL’s 47th AGM
During the 47th Annual General Meeting (AGM) held on August 29, RIL Chairman Mukesh Ambani made several significant announcements, including offering up to 100 GB of free cloud storage for Jio users. He also expressed expectations that the company’s revenue would double within 3-4 years, which could lead to a potential demerger and future listing. Ambani also introduced the AI service platform Jio Brain, plans for national AI infrastructure with gigawatt-scale AI-ready data centers in Jamnagar, Jio TvOS with the HelloJio voice assistant, JioPhoneCall AI, and the Jio AI-Cloud Welcome offer of up to 100 GB free cloud storage for Jio users.