New Delhi, Sep 6 : The Board of Directors of Reliance Industries Limited (RIL) has approved the issue of bonus shares in the ratio of 1:1.

Every shareholder holding one fully paid-up equity share of Rs 10 each on the record date will receive one fully paid-up equity share of Rs 10 each. The record date will be separately intimated, Reliance Industries said.

'This will be the largest ever issuance of bonus equity shares in the Indian equity market. The issuance and listing of bonus shares will coincide with the upcoming festive season in India and will be an early Diwali Gift to all our esteemed shareholders,' RIL said.

'This is the sixth bonus issue from RIL since its IPO and the second in this Golden Decade. The bonus issue is a testimony to Reliance's continued commitment towards rewarding shareholders during the Golden Decade from 2017 to 2027', it added.

In 2017, Reliance had issued bonus shares in the ratio of 1:1

This was followed by a Rights Issue in 2020, where shareholder's investment has grown 2.5 times already.

In July 2023, Jio Financial Services Limited was demerged, which is valued 35 per cent higher today from its listing.

'Reliance remains committed to its mission of creating all-round value for all its stakeholders in the true spirit of its 'We Care' philosophy in coming years,' the company said.

Reliance is India's largest private sector company. Currently ranked 86th, Reliance is the largest private sector company from India to be featured in Fortune's Global 500 list of 'World's Largest Companies' for 2024.

The company stands 45th in the Forbes Global 2000 rankings of 'World's Largest Public Companies' for 2023, the highest among Indian companies.

/IANS