The share price of Reliance Industries Ltd. (RIL) changed on Monday morning as its shares turned ex-date for the bonus issue in a 1:1 ratio. At Rs 1,338 at opening, the most valuable stock on stock markets was 49.61% below its closing price of Rs 2,655.45 on Friday. However, the stock was up 0.77 percent on an adjusted basis.
Thus, investors may be viewing the unadjusted RIL price even if they may be witnessing a 50% decline in RIL shares on their trading applications. Undoubtedly, a bonus issuance lowers the stock price proportionate to the number of bonus shares issued and increases the number of outstanding equity shares.
Although it increases counter liquidity, it lowers the company's free reserves and surplus. It was the biggest bonus issue in Indian history and RIL's sixth overall. In the last month, RIL's stock has dropped 10%. The stock has increased by 2.53% so far this year, while the BSE Sensex has increased by 9.87%.
The RIL stock has returned 266 percent since its last bonus shares in 2017. As of Friday, it was trading at Rs 2,655.45, up from Rs 725.65 on the ex-date of September 7, 2017. The extra issues that came before it were announced in 2009, 1997, 1983, and 1980.
The stock turned ex-date on November 26 of 2009, the same year that Reliance Industries announced bonus shares in a 1:1 ratio. In a 1:1 ratio, the 1997 bonus edition was also announced. Bonus shares in 1983 and 1980 were offered at a 6:10 and 3:5 ratio, respectively. In addition, in May 2020, RIL announced the final of five rights issues. Jio Financial Services Ltd. was demerged in July 2023.
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